N.J.S.A. 34:1B-15.1 — Contiguous municipalities with project; agreements to share revenues; reciprocal ordinances

34:1B-15.1. Contiguous municipalities with project; agreements to share revenues; reciprocal ordinances The governing bodies of any two contiguous municipalities within which is located or is to be located a New Jersey Economic Development Authority project situated in part within each municipality, may by reciprocal ordinances enter into agreements with each other to share all tax revenues, payments in lieu of taxes or other revenues as shall be derived from the entire project, and to which they are by law entitled, in such proportion as they deem proper. L.1977, c. 463, s. 1, eff. March 2, 1978.

This is the verbatim text of N.J.S.A. 34:1B-15.1, retrieved from the New Jersey Legislature's public statute corpus. Statutes are amended periodically — for the most current version, check the external source link above. Kyzer is not a law firm and this page is not legal advice.