Distressed municipality defined

N.J. Stat. § 40A:4-55.18
in effect
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As used in this act the term "distressed municipality" means any municipality required to pay a judgment in an amount which would require an increase in the municipal purposes levy for any year in excess of 40% over the immediately preceding year. L.1982, c. 66, s. 1, eff. July 12, 1982.
Source: Open US Law by Vaquill AI (CC BY 4.0)URL: https://www.njleg.state.nj.us/legislative-activity/statutesFetched: 10/17/2026

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