Title 52, Title 52: STATE GOVERNMENT, DEPARTMENTS AND OFFICERS

52:27BBB-55. Application for CBT or insurance tax credit, certain, for new positions 56. a. A taxpayer engaged in the conduct of business within a qualified municipality and who is not receiving a benefit under the "New Jersey Urban Enterprise Zones Act," P.L.1983, c.303 (C.52:27…

52:27BBB-56 "Residential property" defined; tax credit for certain principal residences. 57. a. For the purposes of subsection b. of this section, "residential property" shall include land, a dwelling house or a condominium unit under the form of real property ownership provided …

52:27BBB-57 Prevailing wage rate on construction contracts under act. 59. Not less than the prevailing wage rate shall be paid to any workers employed in the performance of construction contracts undertaken in connection with any projects undertaken pursuant to P.L.2002, c.43 (C.…

52:27BBB-58. Affirmative action program on EDA projects 60. In order to fulfill its obligation to establish an affirmative action program for the hiring of minority and female workers employed in the performance of construction contracts undertaken in connection with a project un…

52:27BBB-59 Arbitrator to consider rehabilitation when deciding certain labor disputes. 61. For the purposes of section 3 of P.L.1977, c.85 (C.34:13A-16), when deciding the award in a dispute involving public fire or police departments of the qualified municipality during the reh…

52:27BBB-6 Municipality deemed under rehabilitation and economic recovery; term. 6. a. Upon the appointment of a chief operating officer pursuant to section 7 of P.L.2002, c.43 (C.52:27BBB-7), a qualified municipality shall be under rehabilitation and economic recovery. This peri…

52:27BBB-60 Arrangements with other public entities by qualified municipalities. 62. During the rehabilitation and economic recovery terms, the qualified municipality may enter into arrangements with other municipalities, counties, local public authorities, or the State, for the …

52:27BBB-61 Contract to contain provision for termination. 63. a. All contracts and agreements entered into by the qualified municipality during the rehabilitation term pursuant to P.L.2002, c.43 (C.52:27BBB-1 et al.) shall contain provisions stating that the director or chief op…

52:27BBB-62. Moratorium on regional contribution agreements 66. Upon the date upon which the commissioner determines that the municipality fulfills the definition of a qualified municipality pursuant to section 4 of P.L.2002, c.43 (C.52:27BBB-4) and during the rehabilitation term…

52:27BBB-63 Membership of board of education in qualified municipality increased; appointments; terms. 67. a. The membership of the board of education serving in a school district which is contiguous with a qualified municipality and which is subject to level II monitoring or lev…

52:27BBB-63.1 School districts affected by economic recovery term. 12. a. Notwithstanding the provisions of section 67 of P.L.2002, c.43 (C.52:27BBB-63) or any other section of law to the contrary, upon the commencement of the economic recovery term in a qualified municipality pu…

52:27BBB-64. Board of education minutes subject to veto provisions 68. a. Notwithstanding the provisions of Title 18A or any other law, rule, or regulation to the contrary, the minutes of every meeting of the board of education of a school district contiguous with a qualified mun…

52:27BBB-65 Severability. 71. If any section, subsection, paragraph, sentence or other part of P.L.2002, c.43 (C.52:27BBB-1 et al.) is adjudged unconstitutional or invalid, that judgment shall not affect, impair or invalidate the remainder of this act, but shall be confined in it…

52:27BBB-66 Short title. 1. This act shall be known and may be cited as the "Tax Lien Financing Corporation Act." L.2003,c.120,s.1.

52:27BBB-67 Declarations relative to tax lien financing; purposes of act. 2. It is hereby declared to be in the public interest and to be the policy of the State to assist qualified municipalities by facilitating the creation of capital markets structures to fund public improveme…

52:27BBB-68 "Tax Lien Financing Corporation" established; governing members, terms, duties. 3. a. There is hereby established in, but not of, the Department of the Treasury, a public body corporate and politic, with corporate succession, to be known as the "Tax Lien Financing Cor…

52:27BBB-69 Definitions relative to tax lien financing. 4. As used in this act, unless the context clearly requires a different meaning: "Ancillary facility" means any revolving credit agreement, agreement establishing a line of credit or letter of credit, reimbursement agreement…

52:27BBB-7 Appointment of chief operating officer; term. 7. a. Upon receiving notification by the Commissioner of Community Affairs pursuant to section 4 of P.L.2002, c.43 (C.52:27BBB-4), the Governor shall appoint the chief operating officer in consultation with the mayor and th…

52:27BBB-70 Authority to enter into sale agreements. 5. a. Authority to Enter into Sale Agreements. A qualified municipality may sell to the corporation, and the corporation may purchase, for cash or other consideration and in one or more installments, all or a portion of the tax…

52:27BBB-71 Powers of the corporation. 6. The corporation also shall have the power to and be authorized to: a. sue and be sued; b. have a seal and alter the same at its pleasure; c. make and alter bylaws for its organization and internal management and make rules and regulations…

52:27BBB-72 Issuance of securities. 7. a. The corporation shall have the power and is hereby authorized from time to time to issue securities in principal amount or amounts as the corporation shall determine to be necessary to provide sufficient funds for achieving its authorized…

52:27BBB-73 Securities, ancillary facility not debt, liability of State. 8. The securities and any ancillary facility shall not be a debt or liability of the State, a qualified municipality or any agency or instrumentality of either thereof (other than the corporation as set fort…

52:27BBB-74 Tax exemptions. 9. a. It is hereby determined that the creation of the corporation and the carrying out of its authorized purposes is in all respects a public and governmental purpose for the benefit of the people of a qualified municipality and for the improvement of…

52:27BBB-75 State pledges, agreements with parties. 10. a. The State hereby pledges and agrees with the corporation, the owners of the securities and benefitted parties, that until all securities and ancillary facilities, together with the interest thereon and all costs and expen…

52:27BBB-76 Immunity. 11. Neither any member of the corporation nor any officer, employee or agent of the corporation, while acting within the scope of his or her authority, shall be subject to any personal liability resulting from exercising or carrying out of any of the corpora…

52:27BBB-77 Rules, regulations. 12. The corporation may adopt any rule and regulation to effectuate the purposes of this act and, if it does so, shall apply the procedures of the "Administrative Procedure Act," P.L.1968, c.410 (C.52:14B-1 et seq.), with respect thereto. L.2003,c.…

52:27BBB-78 Liberal construction. 13. This act and all powers granted hereby shall be liberally construed to effectuate its intent and their purposes, without implied limitations thereon. This act shall constitute full and complete authority for all things herein contemplated to …

52:27BBB-79 Title 54 unaffected; precedence of act. 14. Title 54 of the Revised Statutes shall remain in full force and effect. In the event of any conflict between this act and Title 54 of the Revised Statutes, this act shall be given precedence over such other law. L.2003,c.120…

52:27BBB-8 Submission of report by chief operating officer. 8. a. At the end of four years following the commencement of duties by the chief operating officer, the chief operating officer or his or her successor shall submit a report to the Governor, each member of the State Econ…

52:27BBB-9 Reallocation of functions, powers, duties to chief operating officer. 9. a. Upon the appointment of the chief operating officer pursuant to subsection a. of section 7 of P.L.2002, c.43 (C.52:27BBB-7), all the functions, powers and duties heretofore or hereafter assigne…