N.J.S.A. 40:54-8.1 — Limitation on increase in amount raised by taxation.

40:54-8.1 Limitation on increase in amount raised by taxation. 5. Any increase in the amount raised by taxation for the municipal library as required by R.S.40:54-8 shall not exceed the total amount expended by the municipality in the previous year plus 15% of the previous year's total expenditures for the maintenance of a free public library; except that the State Librarian is authorized to approve additional appropriations to any municipality that requests to appropriate an amount in excess of 15% of the previous year's total library expenditures. L.1985,c.541,s.5; amended 2001, c.137, s.53.

This is the verbatim text of N.J.S.A. 40:54-8.1, 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.