54A:10-7. Anticipation of revenues in municipal budget; reduction of property tax levy.
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/nj/title-54a/chapter-10/54a-10-7A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Upon notification by the director of the amount of revenue sharing funds due, the governing body of each municipality shall anticipate such revenues in its budget for the succeeding year and shall apply all such revenues to the reduction of the property tax levy.
L.1976, c. 73, s. 7.