reglab/housing_qa huggingface dataset:
NJ Rev Stat § 52:27D-475 (2021)
2021 New Jersey Revised Statutes|Title 52 - State Government, Departments and Officers|Section 52:27D-475 - Submission of operating budget

52:27D-475. Submission of operating budget  27. The district agent shall submit its operating budget for the district annually to the Director of the Division of Local Government Services in the Department of Community Affairs. If the district agent certifies that the budget is in compliance with a preliminary or final financing plan and all other relevant statutes and rules, the director shall approve the budget within 45 days of receipt. If the director disapproves the budget he shall state the reasons therefor, in writing. The district agent may then make the necessary changes and resubmit the budget for approval. The director may adopt rules and regulations in accordance with the "Administrative Procedure Act," P.L.1968, c.410 (C.52:14B-1 et seq.), to ensure the fiscal integrity of districts and effectuate the intent of the "Revenue Allocation District Financing Act,"P.L.2001, c.310 (C.52:27D-459 et seq.). L.2001,c.310,s.27.
NJ Rev Stat § 52:27D-476 (2021)
2021 New Jersey Revised Statutes|Title 52 - State Government, Departments and Officers|Section 52:27D-476 - Revenue allocation fund for district

52:27D-476. Revenue allocation fund for district  28. The district agent shall establish and maintain a special fund called the "(Name of district agent) Revenue Allocation Fund," and herein referred to as "district fund" or "fund." The fund shall be used by the district agent for purposes of the "Revenue Allocation District Financing Act,"P.L.2001, c.310 (C.52:27D-459 et seq.), including but not limited to: a. paying the project costs; b. paying the principal of and interest on bonds or other obligations issued or guaranteed pursuant to the "Revenue Allocation District Financing Act,"P.L.2001, c.310 (C.52:27D-459 et seq.); c. prepaying the principal of and interest on the bonds or other obligations; d. paying additional property tax increment revenue, if any, to taxing entities, as provided for in subsections b. and c. of section 29 of P.L.2001, c.310 (C.52:27D-477) or in the final revenue allocation plan; and e. reimbursing the municipality for any payments made by the State pursuant to the "Municipal Qualified Bond Act," P.L.1976, c.38 (C.40A:3-1 et seq.) to pay debt service on any qualified bonds issued pursuant to section 35 of P.L.2001, c.310 (C.52:27D-483). L.2001,c.310,s.28.
NJ Rev Stat § 52:27D-477 (2021)
2021 New Jersey Revised Statutes|Title 52 - State Government, Departments and Officers|Section 52:27D-477 - Payment of project costs; distribution of moneys

52:27D-477. Payment of project costs; distribution of moneys  29. a. Prior to the adoption of a final revenue allocation plan, the district agent may draw money from the revenue allocation fund for purposes of paying all project costs incurred in connection with the development of the final revenue allocation plan as provided in the approved operating budget, including a reserve for project costs if such reserve is part of the preliminary plan. b. At the end of each calendar year, any moneys in the fund not pledged to bondholders or otherwise required by the district agent for development of the plan shall be distributed to the appropriate taxing or revenue collecting entities that shall forgo the pledged revenues. The revenues shall be distributed by the district agent in proportion to the taxing effort of each taxing or revenue collecting entity in the year of distribution; except that no revenues deposited in the fund shall be included in the calculation of any adjustment payments payable to an intermunicipal account pursuant to statute. c. After the adoption of the final revenue allocation plan the district agent may decide to distribute to the taxing or revenue collecting entities that shall forgo the revenues pursuant to the "Revenue Allocation District Financing Act," sections 11 through 41 of P.L.2001, c.310 (C.52:27D-459 et seq.) a portion of the revenue increments received by the district agent not pledged to the payment of debt service or necessary to pay project costs. The revenues shall be distributed in proportion to the taxing or revenue collecting effort of each such taxing or revenue collecting entity in the year of distribution. d. Moneys in the fund may be invested in the State of New Jersey Cash Management Fund established pursuant to section 1 of P.L.1977, c.281 (C.52:18A-90.4) or in any securities that a local government is permitted to purchase pursuant to section 8 of P.L.1977, c.396 (C.40A:5-15.1). L.2001,c.310,s.29.
NJ Rev Stat § 52:27D-478 (2021)
2021 New Jersey Revised Statutes|Title 52 - State Government, Departments and Officers|Section 52:27D-478 - Termination, dissolution of district

52:27D-478. Termination, dissolution of district  30. Subject to the limitations contained in the "Revenue Allocation District Financing Act," sections 11 through 41 of P.L.2001, c.310 (C.52:27D-459 et seq.), each district shall remain in existence until obligations for any project in that district cease to be outstanding; provided, however, the district may be terminated if sufficient moneys have been deposited in the revenue allocation fund, which, when invested in obligations of or guaranteed by the United States government, will be sufficient to pay when due the principal of and interest on the bonds at maturity or any redemption date or full payment of any other obligations, and if the board approves the dissolution of the district. The Division of Local Government Services in the Department of Community Affairs may recommend to the municipality the dissolution of a district which has not taken substantial steps to implement the plan, so long as there are no bonded obligations outstanding or contractual obligations to pay any part of project costs. L.2001,c.310,s.30.
NJ Rev Stat § 52:27D-479 (2021)
2021 New Jersey Revised Statutes|Title 52 - State Government, Departments and Officers|Section 52:27D-479 - Calculation of general tax rate.

52:27D-479 Calculation of general tax rate.  31. a. In calculating the general tax rate levied each year, the aggregate amount of the ratable increments of the revenue allocation districts that have been pledged to bondholders or are otherwise required by the district agent for the development of the plan shall not be considered a part of the total taxable value of land and improvements within the municipality. b. In calculating the net valuation on which school district taxes and county taxes are apportioned, the aggregate amount of the ratable increments in the revenue allocation district shall be excluded. c. For purposes of this section, "ratable increment" means the taxable value of all property assessed within a revenue allocation district for the tax year, minus the property tax increment base. L.2001, c.310, s.31; amended 2009, c.90, s.17.
NJ Rev Stat § 52:27D-480 (2021)
2021 New Jersey Revised Statutes|Title 52 - State Government, Departments and Officers|Section 52:27D-480 - Powers of district agent following adoption of ordinance

52:27D-480. Powers of district agent following adoption of ordinance  32. Upon approval of the resolution by the board and adoption of an ordinance approving or adopting: a. the final revenue allocation plan by the municipal governing body, or b. a determination regarding a particular project for which there exist sufficient eligible revenues within the district to pay the principal of and interest on obligations issued to finance such project, the district agent shall have the power to incur indebtedness, borrow money and issue its bonds or notes for purposes of financing a project or funding or refunding its bonds or notes. If the district agent is the municipal governing body, any pledge of revenues or funds and obligations incurred shall be limited to the revenues and property accruing to the municipality as district agent and shall not be deemed to include any other municipal revenue or property unless such revenues are pledged or obligations are incurred pursuant to the "Revenue Allocation District Financing Act,"P.L.2001, c.310 (C.52:27D-459 et seq.). The district agent may from time to time issue its bonds or notes in such principal amounts as in the opinion of the district agent are necessary to provide sufficient funds for all or any portion of project costs, including the payment, funding or refunding of the principal of or interest or redemption premiums on any bonds or notes issued by it, whether the bonds or notes or interest to be funded or refunded has or has not become due; the establishment or increase of such reserves to secure or to pay the bonds or notes or interest thereon; and all other costs or expenses of the district agent incident to and necessary to carrying out its corporate purposes and powers. Any provisions of law to the contrary notwithstanding, a bond issued pursuant to the "Revenue Allocation District Financing Act," sections 11 through 41 of P.L.2001, c.310 (C.52:27D-459 et seq.) shall be fully negotiable within the meaning and for all purposes of Title 12A of the New Jersey Statutes, and each holder of the bond, or a coupon appurtenant thereto, by accepting the bond or coupon shall be conclusively deemed to have agreed that the bond or coupon is and shall be fully negotiable within the meaning and for the purposes of that title. L.2001,c.310,s.32.
NJ Rev Stat § 52:27D-481 (2021)
2021 New Jersey Revised Statutes|Title 52 - State Government, Departments and Officers|Section 52:27D-481 - Issuance of bonds, notes

52:27D-481. Issuance of bonds, notes  33. Bonds or notes of the district agent shall be authorized by a resolution or resolutions of the district agent and may be issued in one or more series and shall bear such dates, mature at such times, bear interest at such rates of interest per annum, be in such denominations, be in such form, either coupon or registered, carry such conversion or registration privileges, have such rank or priority, be executed in such manner, be payable from such sources and in such medium of payment at such places within or without the State, and be subject to such terms of redemption, with or without premium, as the resolution or resolutions may provide. Nothwithstanding the provisions of any other law to the contrary related to such district agent, bonds or notes of the district agent may be sold at public or private sale at such price and in such manner as the district agent shall determine. Every bond shall mature and be paid not later than 35 years from the date thereof. Bonds or notes may be issued under the provisions of the "Revenue Allocation District Financing Act," sections 11 through 41 of P.L.2001, c.310 (C.52:27D-459 et seq.) without any other proceeding or the occurrence of any other conditions or other things than those proceedings, conditions or things which are specifically required by the "Revenue Allocation District Financing Act," sections 11 through 41 of P.L.2001, c.310 (C.52:27D-459 et seq.). Bonds or notes of the district agent issued under the provisions of the "Revenue Allocation District Financing Act," sections 11 through 41 of P.L.2001, c.310 (C.52:27D-459 et seq.) shall contain a statement to the effect that they are issued pursuant to the "Revenue Allocation District Financing Act," sections 11 through 41 of P.L.2001, c.310 (C.52:27D-459 et seq.) and entitled to the provisions of the "Revenue Allocation District Financing Act," sections 11 through 41 of P.L.2001, c.310 (C.52:27D-459 et seq.). L.2001,c.310,s.33.
NJ Rev Stat § 52:27D-482 (2021)
2021 New Jersey Revised Statutes|Title 52 - State Government, Departments and Officers|Section 52:27D-482 - Bonds, notes considered general obligations

52:27D-482. Bonds, notes considered general obligations  34. Each issue of bonds or notes of the district may, if it is determined by the district agent, be general obligations thereof payable out of any revenues, receipts or funds held by the district agent, subject only to any agreements with the holders of particular bonds or notes pledging any particular revenues or funds, and may be secured by one or more of the following: a. pledge of eligible revenues and any other revenues derived from leases, sales agreements, service contracts or similar contractual arrangements with one or more persons, firms, partnerships or corporations, whether or not the same relate to the project or part thereof financed with the bonds or notes; b. pledge of grants, subsidies, contributions or other payments to be received from the United States of America or any instrumentality thereof, or from any State, county or municipal governmental body or agency; c. a first mortgage on all or any part of the property, real or personal, of the district agent then owned or thereafter to be acquired; or d. pledge of any moneys, funds, accounts, securities and other funds, including the proceeds of the bonds or notes. L.2001,c.310,s.34.
NJ Rev Stat § 52:27D-485 (2021)
2021 New Jersey Revised Statutes|Title 52 - State Government, Departments and Officers|Section 52:27D-485 - Pledge of district agent valid, binding

52:27D-485. Pledge of district agent valid, binding  37. Any pledge of revenues, receipts, moneys, funds, levies, sales agreements, service contracts or other property or instruments made by the district agent shall be valid and binding from the time when the pledge is made. The revenues, receipts, moneys, funds or other property so pledged and thereafter received by the district agent or a subsidiary shall immediately be subject to the lien of the pledge without any physical delivery thereof or further act, and the lien of any pledge shall be valid and binding as against all parties having claims of any kind in tort, contract or otherwise against the district agent irrespective of whether the parties have notice thereof. Neither the resolution nor any other instrument by which a pledge under this section is created need be filed or recorded except in the records of the district agent. L.2001,c.310,s.37.
NJ Rev Stat § 52:27D-486 (2021)
2021 New Jersey Revised Statutes|Title 52 - State Government, Departments and Officers|Section 52:27D-486 - Immunity from personal liability

52:27D-486. Immunity from personal liability  38. Neither the directors of the district agent nor any person executing bonds or notes issued pursuant to the "Revenue Allocation District Financing Act," P.L.2001, c.310 (C.52:27D-459 et seq.) shall be liable personally on the bonds or notes by reason of the issuance thereof. L.2001,c.310,s.38.
NJ Rev Stat § 52:27D-487 (2021)
2021 New Jersey Revised Statutes|Title 52 - State Government, Departments and Officers|Section 52:27D-487 - Establishment of reserves, funds, account

52:27D-487. Establishment of reserves, funds, account  39. The district agent may establish such reserves, funds or account as may be, in its discretion, necessary or desirable to further the accomplishment of the purposes of the district agent or to comply with the provisions of any agreement made by or any resolution of the district agent. The State and all public officers, governmental units and agencies thereof, all banks, trust companies, savings banks and institutions, building and loan associations, savings and loan associations, investment companies, and other persons carrying on a banking business, all insurance companies, insurance associations and other persons carrying on an insurance business, and all executors, administrators, guardians, trustees and other fiduciaries may legally invest any sinking funds, moneys or other funds belonging to them or within their control in any bonds or notes issued pursuant to the "Revenue Allocation District Financing Act," P.L.2001, c.310 (C.52:27D-459 et seq.), and such bonds or notes shall be authorized security for any and all public deposits. L.2001,c.310,s.39.
NJ Rev Stat § 52:27D-488 (2021)
2021 New Jersey Revised Statutes|Title 52 - State Government, Departments and Officers|Section 52:27D-488 - Bonds exempt from taxation

52:27D-488. Bonds exempt from taxation  40. Bonds, notes or other obligations issued pursuant to the "Revenue Allocation District Financing Act," P.L.2001, c.310 (C.52:27D-459 et seq.) are for an essential public and governmental purpose, and the bonds, notes or other obligations, their transfer and the interest and premium, if any, thereon and the income therefrom, including any profit made on the sale thereof, and all assessments, charges, funds, revenues, income and other moneys pledged or available to pay or secure the payments of the bonds, or interest thereon, shall be exempt from taxation of every kind by the State and the municipality, except transfer inheritance and estate taxes unless exemptions from those taxes have been provided under other laws. L.2001,c.310,s.40.
NJ Rev Stat § 52:27D-489 (2021)
2021 New Jersey Revised Statutes|Title 52 - State Government, Departments and Officers|Section 52:27D-489 - Severability

52:27D-489. Severability  41. If any section, part, phrase, or provision of the "Revenue Allocation District Financing Act," P.L.2001, c.310 (C.52:27D-459 et seq.) of the application thereof to any person, project or circumstances, be adjudged invalid by any court of competent jurisdiction, such judgment shall be confined in its operation to the section, part, phrase, provision or application directly involved in the controversy in which such judgment shall have been rendered and shall not affect or impair the validity of the remainder of the "Revenue Allocation District Financing Act," P.L.2001, c.310 (C.52:27D-459 et seq.) or the application thereof to other persons, projects or circumstances. L.2001,c.310,s.41.
NJ Rev Stat § 52:27D-489a (2021)
2021 New Jersey Revised Statutes|Title 52 - State Government, Departments and Officers|Section 52:27D-489a - Short title.

52:27D-489a Short title.  1. This act shall be known and may be cited as the "New Jersey Economic Stimulus Act of 2009." L.2009, c.90, s.1.
NJ Rev Stat § 52:27D-489g (2021)
2021 New Jersey Revised Statutes|Title 52 - State Government, Departments and Officers|Section 52:27D-489g - Payment to developers from municipalities.

52:27D-489g Payment to developers from municipalities.  7. a. Up to the limits established in subsection b. of this section, and in accordance with a redevelopment incentive grant agreement, the municipality shall pay to the developer incremental eligible revenues directly realized from activities or business operations on the redevelopment project premises and may also pay eligible revenues derived from the project area. b. Up to 75 percent of the incremental local revenues collected pursuant to subsection d. of section 11 of P.L.2009, c.90 (C.52:27D-489k) may be pledged towards the municipal portion, if any, of an incentive grant. c. All administrative costs associated with the local incentive grant shall be assessed to the applicant and be retained by the municipality from its annual payments to the developer. L.2009, c.90, s.7; amended 2010, c.10, s.7.
NJ Rev Stat § 52:27D-489j (2021)
2021 New Jersey Revised Statutes|Title 52 - State Government, Departments and Officers|Section 52:27D-489j - Assistance to developer to enhance credit.

52:27D-489j Assistance to developer to enhance credit.  10. The New Jersey Economic Development Authority, or any other State agency, may provide assistance to a developer in order to enhance its credit for the purpose of securing private project financing on more favorable terms. L.2009, c.90, s.10.
NJ Rev Stat § 52:27D-489k1 (2021)
2021 New Jersey Revised Statutes|Title 52 - State Government, Departments and Officers|Section 52:27D-489k1 - Short title.

52:27D-489k1 Short title.  1. Sections 1 through 11 of this act shall be known and may be cited as the "Economic Redevelopment and Growth Grant Bond Financing Act." L.2018, c.97, s.1.
NJ Rev Stat § 52:27D-489k5 (2021)
2021 New Jersey Revised Statutes|Title 52 - State Government, Departments and Officers|Section 52:27D-489k5 - Incentive grant pledge may be secured by a mortgage.

52:27D-489k5 Incentive grant pledge may be secured by a mortgage.  5. a. In lieu of, or in addition to, the provisions of section 4 of P.L.2018, c.97 (C.52:27D-489k4), the municipality may provide in the agreement that the incentive grant pledge, if any, is to be secured by a mortgage. In that event the mortgage may also be assigned and pledged to the repayment of the bonds authorized herein. b. The assignment of any mortgage that secures an incentive grant pledge, if any, may also be an absolute assignment of all or part of the municipality's right, title, and interest in the mortgage and, to the extent assigned, any moneys realized from the foreclosure of the mortgaged property shall not be included in the general funds of the municipality. c. After the bonds are paid and no longer deemed to be outstanding, the assignment of the mortgage shall terminate. L.2018, c.97, s.5.
NJ Rev Stat § 52:27D-489k6 (2021)
2021 New Jersey Revised Statutes|Title 52 - State Government, Departments and Officers|Section 52:27D-489k6 - Bonds exempt from taxation.

52:27D-489k6 Bonds exempt from taxation.  6. All bonds issued pursuant to sections 1 through 11 of P.L.2018, c.97 (C.52:27D-489k1 et seq.), are hereby declared to be issued by a political subdivision of this State and for an essential public and governmental purpose and the bonds, and the interest thereon and the income therefrom, and all facility charges, funds, revenues, and other moneys pledged or available to pay or secure the payment of the bonds, or interest thereon, shall at all times be exempt from taxation except for transfer inheritance and estate taxes. L.2018, c.97, s.6.
NJ Rev Stat § 52:27D-489k7 (2021)
2021 New Jersey Revised Statutes|Title 52 - State Government, Departments and Officers|Section 52:27D-489k7 - Pledge, covenant, agreement by State with bondholders.

52:27D-489k7 Pledge, covenant, agreement by State with bondholders.  7. The State of New Jersey does hereby pledge to and covenant and agree with the holders of any bonds issued pursuant to sections 1 through 11 of P.L.2018, c.97 (C.52:27D-489k1 et seq.) that the State will not limit or alter the terms of any agreement, ordinance, or resolution made in connection with the security for and the issuance and sale of any bonds, so as to in any way impair the rights or remedies of such holders, and will not modify in any way the exemption from taxation provided for in sections 1 through 11 of P.L.2018, c.97 (C.52:27D-489k1 et seq.) until the bonds, together with interest thereon, with interest on any unpaid installments of interest, and all costs and expenses in connection with any action or proceeding by or on behalf of such holders, are fully met and discharged or provided for. L.2018, c.97, s.7.
NJ Rev Stat § 52:27D-489k8 (2021)
2021 New Jersey Revised Statutes|Title 52 - State Government, Departments and Officers|Section 52:27D-489k8 - Severability.

52:27D-489k8 Severability.  8. If any section, subsection, clause or provision of the "Economic Redevelopment and Growth Grant Bond Financing Act," sections 1 through 11 of P.L.2018, c.97 (C.52:27D-489k1 et seq.), shall be adjudged to be unconstitutional or ineffective in whole or in part, to the extent that it is not adjudged unconstitutional or is not ineffective, it shall be valid and effective and no other section, subsection, clause or provision of the "Economic Redevelopment and Growth Grant Bond Financing Act," sections 1 through 11 of P.L.2018, c.97 (C.52:27D-489k1 et seq.), shall on account thereof be deemed invalid or ineffective, and the inapplicability or invalidity of any section, subsection, clause or provision of the "Economic Redevelopment and Growth Grant Bond Financing Act," sections 1 through 11 of P.L.2018, c.97 (C.52:27D-489k1 et seq.), in any one or more instances or under any one or more circumstances shall not be taken to affect or prejudice in any way its applicability or validity in any other instance or under any other circumstance. L.2018, c.97, s.8.