N.J. Stat. tit. 54A, ch. 10

in effect

N.J. Stat. § 54A:10-1 Short title

This act shall be known and may be cited as the "State Revenue Sharing Act of 1976" . L.1976, c. 73, s. 1.

N.J. Stat. § 54A:10-2 Legislative declaration.

It is hereby declared that because municipalities are limited in their means for raising revenues, that it is the obligation of the State to provide assistance which will benefit all local taxpayers, as a supplement to all other forms of aid. L.1976, c. 73, s. 2.

N.J. Stat. § 54A:10-3 Definitions.

For the purposes of this act, unless the context clearly requires a different meaning: a. "Director" means the Director of the Division of Taxation in the Department of the Treasury. b. "Fund" means the Revenue Sharing Fund created herein. c. "Senior citizen deductions" and "deductions for citizens less than 65 years of age who are permanently and totally disabled, and their surviving spouses in certain cases" means the actual amount of the deductions allowed pursuant to section 4 of P.L.1971, c. 20 (C. 54:4-8.52). d. "Veterans deductions" means the actual amount of the deduction allowed pursuant to section 2 of this act. e. "Effective tax rate," with respect to each municipality, means the total tax levy for the current year for 1976 and the pretax year thereafter on which the tax rate is computed divided by the apportionment valuation for the current year for 1976 and the pretax year thereafter as shown in the Table of Aggregates, prepared pursuant to R.S. 54:4-52. L.1976, c. 73, s. 3. Amended by L.1978, c. 66, s. 1, eff. July 3, 1978.

N.J. Stat. § 54A:10-4 Revenue sharing fund; creation; distributions to municipalities.

There is hereby created within the General Treasury a Revenue Sharing Fund of $50 million of the net revenues from the New Jersey Gross Income Tax Act. Distribution of the revenue from the fund shall be made annually to all municipalities with an effective tax rate in excess of $1.00 per $100.00 of true valuation in the proportion which the population of the qualifying municipality bears to the total population of all qualifying municipalities of the State according to the most recent State population estimates published by the New Jersey Department of Labor and Industry, except that in the year of promulgation of a Federal decennial census, the census figures shall be used. L.1976, c. 73, s. 4.

N.J. Stat. § 54A:10-5 Distribution of additional amount.

In addition to the amount determined in section 4 above, there shall be added to the amount to be distributed to each municipality the following: a. An amount equivalent to the senior citizen deductions in each municipality, and; b. An amount equivalent to the veterans' deductions in each municipality. L.1976, c. 73, s. 5.

N.J. Stat. § 54A:10-6 Annual computation of funds due each municipality; credit after prepayment of tax.

Prior to November 1, 1976 and prior to November 1 in each year thereafter the director shall compute the amount of revenue sharing funds due each municipality for the succeeding year, and shall thereupon notify the governing body and the tax collector or other chief fiscal officer of each municipality of the amounts so determined. If a taxpayer has prepaid his tax, he shall be given a credit upon his subsequent tax payment. L.1976, c. 73, s. 6.

N.J. Stat. § 54A:10-7 Anticipation of revenues in municipal budget; reduction of property tax levy.

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.

N.J. Stat. § 54A:10-8 Annual certification of funds due each municipality; payments.

On or before December 1 annually, the director shall certify to the State Treasurer the amount of revenue sharing funds due each municipality under the provisions of this act. The State Treasurer upon the certification of the director and upon the warrant of the State Comptroller shall pay to each municipality the amount due as follows: Revenue sharing funds, except for funds to be distributed under section 5 shall be paid annually in quarterly installments on February 1, May 1, August 1 and November 1. Revenue sharing funds to be distributed under section 5 shall be paid on November 1, 1977 and annually thereafter. Each installment shall consist of 25% of the total amount due. L.1976, c. 73, s. 8.

N.J. Stat. § 54A:10-9 Rules and regulations.

The director is hereby authorized to make such rules and regulations as may be necessary to carry out the provisions of this act. The Director of the Division of Local Government Services is hereby authorized to make such rules and regulations as may be necessary to carry out the provisions of this act with respect to tax bills and revisions thereof. L.1976, c. 73, s. 9.

N.J. Stat. § 54A:10-10 Inapplicability of act to program of aid or assistance in effect.

Nothing herein contained shall affect any program of aid or assistance now in effect. L.1976, c. 73, s. 10.

N.J. Stat. § 54A:10-11 Veterans deductions; certification of number and amounts by county board of taxation.

On or before June 15, 1978 and on or before June 15 of each year thereafter, each county board of taxation shall, on a form prescribed by the Director of the Division of Taxation, certify to the director from the tax lists certified to it for each taxing district for the current tax year the following: a. The number of veterans deductions allowed for the current tax year including those allowed by the tax collector up to May 31 of the current tax year; b. The total dollar amount of veterans deductions for the current year including those allowed by the tax collector up to May 31 of the current tax year; c. Separately, the number and dollar amount of veterans deductions allowed, or disallowed, for the period from June 1 to December 31 of the previous tax year beginning in 1979; d. The totals for a., b., and c. above by district and for the county as a whole. L.1978, c. 66, s. 2, eff. July 3, 1978.

N.J. Stat. § 54A:10-12 Additional amount of revenue sharing funds due each municipality for current tax year; certification; payment.

On or before September 15, 1978, the director shall certify to the State Treasurer the additional amount of revenue sharing funds due each municipality for the current tax year. The State Treasurer upon the certification of the director and upon the warrant of the State Comptroller shall pay to each municipality such additional amounts on or before November 1, 1978. In each year thereafter there shall be paid to each municipality the full amount of revenue sharing funds which shall include the additional amounts provided for by this act. L.1978, c. 66, s. 3, eff. July 3, 1978.

Source: Open US Law by Vaquill AI (CC BY 4.0)URL: https://www.njleg.state.nj.us/legislative-activity/statutesFetched: 10/17/2026