N.J.S.A. 54:8A-107 — Balances accumulated as an endowment fund; use

54:8A-107. Balances accumulated as an endowment fund; use So much of the moneys as may be in the Transportation Benefit Fund at any time and as may be in excess of the amounts needed to meet anticipated uses thereof pursuant to this act during any fiscal year, shall be held and accumulated as an endowment fund, and may be invested and reinvested from time to time, in the same manner as any State funds may be invested, and the income thereof, as well as so much of the principal as may be necessary from time to time, shall be applied to the purposes authorized for the said Transportation Benefit Fund, within the limits of available appropriations. L.1971, c. 222, s. 50, approved June 17, 1971; expired December 31, 1980 pursuant to L.1971,c.222,s.62.

This is the verbatim text of N.J.S.A. 54:8A-107, 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.