reglab/statecodes huggingface dataset:
2023 New Jersey Revised Statutes › Title 48 - Public Utilities › Section 48:25-4 - Light duty plug-in electric vehicle incentive program.

48:25-4 Light duty plug-in electric vehicle incentive program.
4. a. No later than 180 days after the effective date of P.L.2019, c.362 (C.48:25-1 et al.), the Board of Public Utilities shall establish and implement a light duty plug-in electric vehicle incentive program for the purpose of encouraging the purchase or lease of new light duty plug-in electric vehicles in the State.
b. The board shall implement the light duty plug-in electric vehicle incentive program until June 30th of the 10th year after establishment of the incentive program.
c. (1) Any incentive offered pursuant to this section shall take the form of a one-time payment to the purchaser or lessee of an eligible vehicle.
(2) For the first year an incentive is offered, the amount of the incentive shall be equal to $25 per mile of EPA-rated electric-only range up to a maximum of $5,000 per eligible vehicle. For each subsequent year an incentive is offered, the board may, after consideration of stakeholder input, change the amount of the incentive and the manner in which an incentive is calculated, provided that no incentive shall exceed $5,000 per eligible vehicle. The board shall publish the amount of any incentives on its Internet website.
(3) The board may limit the number of plug-in electric vehicle incentives that it issues to a single person.
(4) The board may establish other requirements and parameters for the incentive program as it deems necessary and reasonable to further the goals of P.L.2019, c.362 (C.48:25-1 et al.).
d. The board shall monitor the disbursement of incentives under the incentive program, and annually reassess the design and implementation of the incentive program. Provided the board's action is consistent with the provisions of subsection c. of this section, the board may:
(1) revise the incentive program, any aspect of the incentives, or the related implementation procedures or processes; and
(2) develop additional incentives consistent with the goals of P.L.2019, c.362 (C.48:25-1 et al.) in order to ensure efficient and equitable electrification of transportation in the State.
e. Notwithstanding any other provision of law to the contrary, a light duty plug-in hybrid vehicle shall not qualify for an incentive under the light duty plug-in electric vehicle incentive program after December 31, 2022.
L.2019, c.362, s.4.
2023 New Jersey Revised Statutes › Title 48 - Public Utilities › Section 48:25-5 - Offering of light duty plug-in electric vehicle incentive by seller, lessor.

48:25-5 Offering of light duty plug-in electric vehicle incentive by seller, lessor.
5. a. The seller or lessor of an eligible vehicle shall offer the light duty plug-in electric vehicle incentive established pursuant to section 4 of P.L.2019, c.362 (C.48:25-4) in conjunction with, and in addition to, any other incentive offered by the seller or lessor of an eligible vehicle.
b. A seller or lessor of an eligible vehicle shall provide a purchaser or lessee the option to have the amount of the light duty plug-in electric vehicle incentive deducted from the final negotiated and agreed upon sale or lease price of the eligible vehicle, in which case the full amount of the incentive shall be passed through to the purchaser or lessee in full and payment thereof shall be effective immediately at the time of the final sale or lease and transfer of the eligible vehicle to the purchaser or lessee. The board shall establish a process for reimbursing a seller or lessor of an eligible vehicle the cost of an incentive provided by the seller or lessor pursuant to this subsection.
c. The board shall require each seller or lessor of an eligible vehicle to provide to the board, upon the final sale or lease and transfer of an eligible vehicle to a purchaser or lessee, the eligible vehicle's make, model, and battery size, and any other information as the board determines relevant.
L.2019, c.362, s.5.
2023 New Jersey Revised Statutes › Title 48 - Public Utilities › Section 48:25-6 - Program to provide incentives for purchase, installation of in-home electric vehicle service equipment.

48:25-6 Program to provide incentives for purchase, installation of in-home electric vehicle service equipment.
6. a. The Board of Public Utilities may establish and implement a program to provide incentives for the purchase and installation of in-home electric vehicle service equipment.
b. Any incentive program established pursuant to this section may be implemented only until June 30th of the 10th year after establishment of the program.
c. (1) Any incentive offered pursuant to this section shall take the form of a one-time payment to the person purchasing the in-home electric vehicle service equipment.
(2) The amount of the incentive offered pursuant to this section shall be determined by the board, but shall not exceed $500 per person. Any incentive a person receives pursuant to this section shall be in addition to any incentive the person receives for the purchase or lease of a new light duty plug-in electric vehicle pursuant to sections 4 and 5 of P.L.2019, c.362 (C.48:25-4 and C.48:25-5).
(3) The board may establish other requirements and parameters for the program as it deems necessary and reasonable to further the goals of P.L.2019, c.362 (C.48:25-1 et al.).
d. The board shall monitor the disbursement of incentives under the incentive program, and annually reassess the design and implementation of the incentive program. Provided the board's action is consistent with the provisions of subsection c. of this section, the board may:
(1) revise the incentive program, any aspect of the incentives, or the related implementation procedures or processes; and
(2) in consultation with the department, develop additional incentives for electric vehicle service equipment consistent with the goals of P.L P.L.2019, c.362 (C.48:25-1 et al.) in order to ensure efficient and equitable electrification of transportation in the State.
e. The board shall determine the form and manner of the application for, and the disbursement of, incentives pursuant to this section.
L.2019, c.362, s.6.
2023 New Jersey Revised Statutes › Title 48 - Public Utilities › Section 48:25-7 - Plug-in Electric Vehicle Incentive Fund.

48:25-7 Plug-in Electric Vehicle Incentive Fund.
7. a. There is established in the Board of Public Utilities a special, nonlapsing fund to be known as the Plug-in Electric Vehicle Incentive Fund. The fund shall be administered by the board and shall be credited with:
(1) moneys deposited into the fund by the board pursuant to subsection b. of this section;
(2) moneys that are appropriated by the Legislature; and
(3) any return on investment of moneys deposited in the fund.
b. (1) The board shall deposit into the fund, each year, $30 million of moneys received from the societal benefits charge established pursuant to section 12 of P.L.1999, c.23 (C.48:3-60), moneys made available to the board pursuant to the implementation of the Regional Greenhouse Gas Initiative and P.L.2007, c.340 (C.26:2C-45 et seq.), and moneys available from other funding sources, as determined by the board, to make disbursements under the light duty plug-in electric vehicle incentive program established pursuant to section 4 of P.L.2019, c.362 (C.48:25-4).
(2) The board may deposit into the fund, each year, such additional amounts from the societal benefits charge, as the board deems necessary, to make disbursement under an incentive program for in-home electric vehicle service equipment established pursuant to section 6 of P.L.2019, c.362 (C.48:25-6).
c. Moneys in the fund shall be used by the board solely for the purpose of disbursing the incentives established pursuant to sections 4 and 6 of P.L.2019, c.362 (C.48:25-4 and C.48:25-6). The board shall recover any administrative costs incurred in connection with P.L.2019, c.362 (C.48:25-1 et al.) separately from moneys received from the societal benefits charge.
d. The board shall provide no less than $30 million in disbursements under the light duty plug-in electric vehicle incentive program established pursuant to section 4 of P.L.2019, c.362 (C.48:25-4) each year for 10 years.
L.2019, c.362, s.7.
2023 New Jersey Revised Statutes › Title 48 - Public Utilities › Section 48:25-8 - Development of website.

48:25-8 Development of website.
8. The Board of Public Utilities shall develop a website, accessible by the public, that provides up-to-date information about the availability of the incentives established pursuant to sections 4 and 6 of P.L.2019, c.362 (C.48:25-4 and C.48:25-6).
L.2019, c.362, s.8.
2023 New Jersey Revised Statutes › Title 48 - Public Utilities › Section 48:25-9 - Public education program.

48:25-9 Public education program.
9. No later than 180 days after the effective date of P.L.2019, c.362 (C.48:25-1 et al.), the Department of Environmental Protection shall, after consideration of stakeholder input, develop and implement a public education program to educate consumers about the availability and benefits of plug-in electric vehicles, the State goals for plug-in electric vehicle deployment established in section 3 of P.L.2019, c.362 (C.48:25-3), and the availability of incentives established pursuant to sections 4 and 6 of P.L.2019, c.362 (C.48:25-4 and C.48:25-6).
L.2019, c.362, s.9.
2023 New Jersey Revised Statutes › Title 48 - Public Utilities › Section 48:25-10 - Not deemed electric public utility.

48:25-10 Not deemed electric public utility.
10. Unless otherwise provided in Title 48 of the Revised Statutes, or any other federal or State law, an entity owning, controlling, operating, or managing electric vehicle service equipment shall not be deemed an electric public utility solely because of such ownership, control, operation, or management. The charging of a plug-in electric vehicle shall be deemed a service and not a sale of electricity by an electric power supplier or basic generation service provider pursuant to P.L.1999, c.23 (C.48:3-49 et al.).
L.2019, c.362, s.10.
2023 New Jersey Revised Statutes › Title 48 - Public Utilities › Section 48:25-11 - Rules, regulations.

48:25-11 Rules, regulations.
11. The board may, in consultation with the department, adopt, pursuant to the "Administrative Procedure Act," P.L.1968, c.410 (C.52:14B-1 et seq.), rules and regulations necessary for the implementation of P.L.2019, c.362 (C.48:25-1 et al.).
L.2019, c.362, s.11.
2023 New Jersey Revised Statutes › Title 49 - Sale of Securities › Section 49:2-1 - Obligations of United States; authority to act as selling and issuing agents

49:2-1. Obligations of United States; authority to act as selling and issuing agents
Notwithstanding the provisions of any other law, all individuals, partnerships, associations and corporations organized, operating or doing business under the laws of this State are hereby authorized, upon designation by and qualification with the Secretary of the Treasury of the United States or under his authority, to act as selling and issuing agents for the sale and issue of obligations of the United States, during the period of any emergency proclaimed by the President of the United States and during the period in which a state of war exists between the United States and a foreign nation.
L.1942, c. 125, p. 409, s. 1.
2023 New Jersey Revised Statutes › Title 49 - Sale of Securities › Section 49:2-3 - Definitions

49:2-3. Definitions
As used in this act:
a. "Book entry system" means a method of recording ownership which identifies the owner of an interest in the obligation;
b. "Registered form" means an obligation which is registered as to both principal and any stated interest, and (1) the transfer of the obligation may be effected by the surrender of the old instrument and either the reissuance by the issuer of the old instrument to the new holder or the issuance by the issuer of a new instrument to the new holder, or (2) the right to the principal of, and stated interest on, the obligation may be transferred through a book entry system;
c. "Obligation" means a bond, debenture, note, certificate or other evidence of indebtedness issued by a public issuer; and
d. "Public issuer" means the State, or any county, municipality, school district, body corporate and politic, district or public authority, agency, commission or other public institution heretofore or hereafter created by the State, any county or municipality or by one or more counties or municipalities which is authorized to issue obligations.
L.1983, c. 243, s. 2, eff. July 1, 1983.
2023 New Jersey Revised Statutes › Title 49 - Sale of Securities › Section 49:2-4 - Form of obligation

49:2-4. Form of obligation
Obligations may be issued in registered form, and all or any portion of an issue of obligations may be issued in the form of a single bond or note to a bank, transfer agent, fiscal agent, registrar or other holder appointed by resolution or ordinance of the public issuer for the purpose of maintaining a book entry system.
L.1983, c. 243, s. 3, eff. July 1, 1983.
2023 New Jersey Revised Statutes › Title 49 - Sale of Securities › Section 49:2-5 - Contracts regarding servicing of obligations

49:2-5. Contracts regarding servicing of obligations
Any public issuer, pursuant to ordinance or resolution, may contract with any bank, trust company or national banking association, or other institution, depository or fiduciary, or any person, firm or corporation located within or without the State, for services with respect to the issuance, transfer, exchange, payment, authentication, or other servicing of any of its obligations. The contracts may be for a specified or unlimited period of time and on any terms or conditions approved by the public issuer, shall be valid and binding whether or not an appropriation with respect thereto has been made prior to authorization or execution, and shall not be subject to the provisions of the "Local Public Contracts Law," P.L.1971, c. 198 (C. 40A:11-1 et seq.); the "Public School Contracts Law," N.J.S. 18A:18A-1 et seq.; P.L. 1954, c. 48 (C. 52:34-6 et seq.); or any other laws requiring public bidding. Annual costs and expenses under contracts shall be budgeted, met and provided for by the public issuer in the same manner as is debt service on its obligations which are the subject thereof. Initial or start-up fees and costs under contracts shall be deemed to be costs of issuance of the obligations which are the subject thereof.
L.1983, c. 243, s. 4, eff. July 1, 1983.
2023 New Jersey Revised Statutes › Title 49 - Sale of Securities › Section 49:2-6 - Execution of obligation; signature

49:2-6. Execution of obligation; signature
Any obligation in registered form may be executed by the officer or officers of the public issuer authorized to do so with a facsimile signature in lieu of the manual signature of the authorized officer or officers, and the corporate seal of the public issuer, or a facsimile thereof, may be printed, engraved or otherwise reproduced on the obligation; provided that the obligation is authenticated by the authorized manual signature of, or on behalf of, a registrar, fiscal agent, transfer agent, trustee, paying agent or the like.
L.1983, c. 243, s. 5, eff. July 1, 1983.
2023 New Jersey Revised Statutes › Title 49 - Sale of Securities › Section 49:2-7 - Powers as supplemental; inconsistent laws

49:2-7. Powers as supplemental; inconsistent laws
The powers granted in this act shall be supplemental and additional to any powers conferred by other laws upon public issuers and not in derogation of any powers now existing. To the extent the provisions of this act are inconsistent with any other law, this act shall control.
L.1983, c. 243, s. 6, eff. July 1, 1983.
2023 New Jersey Revised Statutes › Title 49 - Sale of Securities › Section 49:2A-3 - Definitions.

49:2A-3 Definitions.
3. As used in this act:
a. "Bond" means a revenue obligation, security, bond, note, debenture, certificate or other evidence of indebtedness of an issuer.
b. "Carryforward" means that portion of the State volume cap for any calendar year which is unused during that calendar year and which is available to be carried forward to be used in later years pursuant to the Code.
c. "Federal formula" means the formula or formulas for allocation of the State volume cap now or hereafter established pursuant to the Code.
d. "Governmental bond" means any tax-exempt bond which is not a private activity bond.
e. "Issuer" means the State or any political subdivision of the State or any entity issuing bonds on behalf of the State or any political subdivision of the State.
f. "Private activity bond" and "private activity portion of governmental bonds" means a bond or portion thereof subject to any allocation of the State volume cap pursuant to the Code.
g. "Tax-exempt bond" means a bond, note or other obligation the interest on which is not includible in federal gross income pursuant to section 103 of the Code.
h. "Tax-credit bond" or "tax subsidy bond" is a bond the interest on which is included in gross income for federal income tax purposes, but in respect of which the holder receives a tax credit or, in the alternative, the issuer receives an interest subsidy payment, which tax credit or interest subsidy payment is predicated on the bond qualifying for such amounts under applicable provisions of the American Recovery and Reinvestment Act of 2009, Pub.L. No.111-5 or such other provision of federal law as may amend or supplement the Code from time to time.
i. "Volume cap" means the annual dollar limitation on the issuance of tax-exempt private activity bonds and the private activity portion of governmental bonds now or hereafter imposed on issuers by the Code or any other annual dollar limitation on the issuance of tax-credit bonds or tax-subsidy bonds under the Code.
L.1987, c.393, s.3; amended 2009, c.76, s.4.
2023 New Jersey Revised Statutes › Title 49 - Sale of Securities › Section 49:2A-4 - Allocation of State volume cap.

49:2A-4 Allocation of State volume cap.
4. a. In order to ensure that the limited amounts of available tax-exempt private activity bond financing, tax-credit bond financing, and tax-subsidy bond financing are used in the most effective manner by issuers, the Governor is authorized to establish a procedure for allocation of the State volume cap which procedure may provide for a reallocation formula that differs from the federal formula.
b. Any allocation procedure established by the Governor shall provide, by executive order or otherwise, that:
(1) The entire State volume cap be allocated to the Department of the Treasury for reallocation by the State Treasurer;
(2) Any allocations made pursuant to this act be reviewed periodically and that unused allocations may be utilized for carryforward or rescinded for reallocation and carryforward, for reallocation, or for carryforward, as the case may be; and
(3) Any department of State Government or issuer receiving an allocation may establish guidelines and procedures with respect to that allocation and, if permitted, with respect to the reallocation and carryforward of that allocation or the reallocation, or carryforward of that allocation, as the case may be.
c. The allocation procedure and formula, if any, established by the Governor pursuant to this section shall be applicable to the allocation of the State volume cap for the 1988 calendar year, and, unless modified or revoked by further action of the Governor, shall be applicable to each calendar year thereafter.
L.1987, c.393, s.4; amended 2009, c.76, s.5.
2023 New Jersey Revised Statutes › Title 49 - Sale of Securities › Section 49:2A-5 - Annual report.

49:2A-5 Annual report.
5. The Governor shall submit to the Legislature, after January 1, 1988 and on or before January 20, 1988, and after January 1 and on or before January 20 annually thereafter, a written report providing a review of the allocation of the State volume cap during the preceding calendar year and the preliminary allocation anticipated for the current calendar year. If the information concerning the preliminary allocation is not available on each January 20, the Governor shall submit that information to the Legislature as soon as the information is available. The annual report shall include for the year being reviewed and for the current calendar year, as may be applicable:
a. A statement of the annual State volume cap;
b. An explanation of any formula used or to be used for the allocation among issuers;
c. The name of issuers granted any portion of the annual State volume cap, the amount of the State volume cap allocated to each issuer, the amount of bonds issued under the classifications of qualified private activity bonds set forth in section 146 of the Code and tax-credit bonds and tax-subsidy bonds under any other applicable section of the Code, a description of the nature of each bond issuance under the State volume cap and the private business use if any applicable to the bonds, and any elective carryforward and reallocation and the use and purposes thereof; and
d. A statement of guidelines, terms and conditions, and procedures established by any department of State Government or issuer promulgated under the authority of section 4 of this act and under the authority of any executive action taken thereunder, and any action concerning the allocation of the State volume cap or any carryforward that is an exception or deviation from the standard guidelines, terms and conditions, and procedures.
The Governor shall also submit to the Legislature in writing, as soon as is possible, any modification or revocation of an allocation procedure or formula established pursuant to section 4 of this act.
L.1987, c.393, s.5; amended 2009, c.76, s.6.
2023 New Jersey Revised Statutes › Title 49 - Sale of Securities › Section 49:2B-2 - Findings

49:2B-2. Findings
2. The Legislature finds that:
a. Many series of bonds of the State have been issued periodically to fulfill the various purposes for which those bonds were authorized;
b. It has been necessary to sell some series of bonds of the State at times when interest rates in the municipal bond market have been higher than presently prevailing rates;
c. Projections indicate that, when interest rates decline in the municipal bond market, certain refinancing methods can be utilized to reduce, on a present value basis, the aggregate amount of principal and interest payable on bonds of the State;
d. Laws of the State enacted prior to the effective date of this act and authorizing the issuance of bonds do not provide the authority needed to utilize those refinancing methods;
e. Bonds of the State have heretofore and will hereafter be issued pursuant to those laws;
f. It is necessary for the State of New Jersey to provide for refinancing methods that will reduce, on a present value basis, the aggregate amount of principal and interest payable on bonds of the State in order to make more efficient use of the State's resources;
g. At the general election held in the month of November 1983, the people of the State approved, in accordance with the provisions of the Constitution of the State of New Jersey, the amendment of Article VIII, Section II, paragraph 3 of the Constitution to allow the Legislature to authorize actions which would facilitate greater financial flexibility in connection with the refinancing of all or a portion of any outstanding debts of liabilities of the State theretofore or thereafter created; and
h. The purpose of this Refunding Bond Act of 1985 is to implement the purpose of that amendment to the Constitution.
L.1985,c.74,s.2.
2023 New Jersey Revised Statutes › Title 49 - Sale of Securities › Section 49:2B-3 - Definitions

49:2B-3. Definitions
3. As used in this act:
a. "Outstanding bonds" means any bonds of the State of New Jersey, and the interest coupons, if any, appertaining thereto, which have heretofore been issued or which are hereafter issued pursuant to any law of the State and which are direct obligations of the State for which the faith and credit of the State are pledged for the payment of the interest thereon as it shall become due and the payment of the principal at maturity.
b. "Government securities" means any bonds or other obligations which as to principal and interest constitute direct obligations of, or are unconditionally guaranteed by, the United States of America, including obligations of any federal agency to the extent those obligations are unconditionally guaranteed by the United States of America and any certificates or any other evidences of any ownership interest in those obligations of, or unconditionally guaranteed by, the United States of America or in specified portions of those obligations (which may consist of the principal of, or the interest on, those obligations).
c. "State Treasurer" means the Treasurer of the State of New Jersey.
d. "Refinancing" means providing for the payment of an obligation at or prior to its maturity or upon redemption, as provided in this act.
e. "Refunding bonds" means bonds of the State issued under this act.
L.1985,c.74,s.3; amended 1992,c.182,s.1.
2023 New Jersey Revised Statutes › Title 49 - Sale of Securities › Section 49:2B-4 - Amount authorized

49:2B-4. Amount authorized
4. Refunding bonds of the State of New Jersey are authorized to be issued in an amount not to exceed the amount necessary to effectuate the refinancing of all or any portion of any series of outstanding bonds in accordance with the terms and conditions of section 5 of this act.
L.1985,c.74,s.4.
2023 New Jersey Revised Statutes › Title 49 - Sale of Securities › Section 49:2B-5 - Refunding bonds, terms

49:2B-5. Refunding bonds, terms
5. a. Refunding bonds shall be serial bonds or term bonds or a combination thereof and shall be known as "refunding bonds." They may be subject to redemption prior to maturity, including any sinking fund redemptions, at any time not later than five years following the latest scheduled maturity date, determined without regard to any redemptions prior thereto, or any of the outstanding bonds to be refinanced thereby, and shall mature and be paid in no event later than 35 years following the date of issuance of the refunding bonds, but may be issued in whole or in part for a shorter term.
b. The issuing officials named in section 6 of this act may issue refunding bonds at any time for the purpose set forth in section 4 of this act, subject to the following provisions:
(1) Refunding bonds may be issued at any time prior to the maturity or redemption of the outstanding bonds to be refinanced thereby as the issuing officials shall determine;
(2) Each series of refunding bonds may be issued in a sufficient amount to pay or to provide for the payment of the principal of the outstanding bonds to be refinanced, together with any redemption premium on the outstanding bonds, any interest accrued or to accrue on the outstanding bonds to be refinanced to the date of payment of those outstanding bonds, the expenses of issuing the refunding bonds and the expenses, if any, of paying the outstanding bonds to be refinanced;
(3) No refunding bonds shall be issued unless the issuing officials shall first determine that the present value of the aggregate principal of and interest on the refunding bonds is less than the present value of the aggregate principal of and interest on the outstanding bonds to be refinanced, except that, for the purposes of this limitation, present value shall be computed using a discount rate equal to the yield of those refunding bonds, and yield shall be computed using an actuarial method based upon a 360-day year with semiannual compounding and upon the prices paid to the State by the initial purchasers of those refunding bonds; and
(4) Any refinancing authorized under this act may be effected by the sale of the refunding bonds and the application of the proceeds of the refunding bonds to the payment of the principal of the outstanding bonds to be refinanced thereby, together with any redemption premium thereon, any interest accrued or to accrue on those outstanding bonds to be refinanced to the date of payment of the outstanding bonds, the expenses of issuing the refunding bonds and the expenses, if any, of paying the outstanding bonds to be refinanced, as provided in this act.
L.1985,c.74,s.5.
2023 New Jersey Revised Statutes › Title 49 - Sale of Securities › Section 49:2B-6 - Issuing officials

49:2B-6. Issuing officials
6. The Governor, State Treasurer and Comptroller of the Treasury or any two of those officials (hereinafter referred to as "the issuing officials") are authorized to carry out the provisions of this act relating to the issuance of refunding bonds, and shall determine all matters in connection therewith subject to the provisions of this act. If any of those officials shall be absent from the State or incapable of acting for any reason, his powers and duties shall be exercised and performed by the person authorized by law to act in his place as a State official.
L.1985,c.74,s.6.
2023 New Jersey Revised Statutes › Title 49 - Sale of Securities › Section 49:2B-7 - Pledge

49:2B-7. Pledge
7. Refunding bonds issued in accordance with the provisions of this act shall be a direct obligation of the State of New Jersey and the faith and credit of the State are pledged for the payment of the interest thereon as it shall become due and the payment of the principal at maturity. The principal and interest on refunding bonds shall be exempt from taxation by the State or by any county, municipality or other taxing district of the State.
L.1985,c.74,s.7.
2023 New Jersey Revised Statutes › Title 49 - Sale of Securities › Section 49:2B-8 - Authentication

49:2B-8. Authentication
8. Refunding bonds shall be signed in the name of the State by the Governor or by his facsimile signature, under the Great Seal of the State (which seal may be by facsimile or by way of any other form of reproduction on the refunding bonds), and attested by the manual or facsimile signature of the Secretary of State, or an Assistant Secretary of State, shall be countersigned by the facsimile signature of the Comptroller of the Treasury and may be authenticated by an authenticating agent or bond registrar, as the issuing officials shall determine. Interest coupons, if any, attached to the bonds shall be signed by the facsimile signature of the Comptroller of the Treasury. Refunding bonds may be issued notwithstanding that any of the officials signing them or whose facsimile signatures appear on the refunding bonds or coupons shall cease to hold office at the time of that issue or at the time of the delivery of the bonds to the purchaser.
L.1985,c.74,s.8.
2023 New Jersey Revised Statutes › Title 49 - Sale of Securities › Section 49:2B-9 - Recitals

49:2B-9. Recitals
9.a. Refunding bonds shall recite that they are issued for the purposes set forth in section 4 of this act and that they are issued in pursuance of this act and that this act was enacted in accordance with the provisions of the Constitution of the State of New Jersey. The recital in the bonds shall be conclusive evidence of the authority of the State to issue those bonds and of their validity. Any refunding bonds containing that recital shall in any suit, action or proceeding involving their validity be conclusively deemed to be fully authorized by this act and to have been issued, sold, executed and delivered in conformity therewith and with all other provisions of statutes applicable thereto, and shall be incontestable for any cause.
b. Refunding bonds shall be issued in denominations and in forms, whether coupon, fully registered or book-entry, and with or without provisions for interchangeability thereof, as may be determined by the issuing officials.
L.1985,c.74,s.9.
2023 New Jersey Revised Statutes › Title 49 - Sale of Securities › Section 49:2B-10 - Issues as separate series, interest payable

49:2B-10. Issues as separate series, interest payable
10. When refunding bonds are issued from time to time, the refunding bonds of each issue shall constitute a separate series to be designated by the issuing officials. Each series of refunding bonds shall bear rates of interest as may be determined by the issuing officials, which interest shall be payable at such times and in such manner as may be determined by the issuing officials.
L.1985,c.74,s.10; amended 1992,c.182,s.2.
2023 New Jersey Revised Statutes › Title 49 - Sale of Securities › Section 49:2B-12 - Temporary bonds

49:2B-12. Temporary bonds
12. Until permanent refunding bonds can be prepared, the issuing officials may, in their discretion, issue in lieu of the permanent refunding bonds, temporary refunding bonds in a form and with privileges as to registration and exchange for permanent refunding bonds as may be determined by the issuing officials.
L.1985,c.74,s.12.
2023 New Jersey Revised Statutes › Title 49 - Sale of Securities › Section 49:2B-14 - Application of trust amounts

49:2B-14. Application of trust amounts
14. The moneys and the principal of and interest on government securities held in trust as provided in section 13 of this act shall be applied for the purposes provided in this act, and those amounts are appropriated for those purposes.
L.1985,c.74,s.14.
2023 New Jersey Revised Statutes › Title 49 - Sale of Securities › Section 49:2B-15 - Replacement of lost bonds or coupons

49:2B-15. Replacement of lost bonds or coupons
15. If any coupon refunding bonds or coupons thereunto appertaining or any registered refunding bonds become lost, mutilated or destroyed, a new refunding bond or coupon shall be executed and delivered of like tenor, in substitution for the lost, mutilated or destroyed refunding bonds or coupons, upon the owner furnishing to the issuing officials evidence satisfactory to them of the loss, mutilation or destruction, proof of ownership and such security and indemnity and reimbursement for expenses as the issuing officials may require.
L.1985,c.74,s.15.
2023 New Jersey Revised Statutes › Title 49 - Sale of Securities › Section 49:2B-16 - Application of accrued interest

49:2B-16. Application of accrued interest
16. Accrued interest received upon the sale of refunding bonds shall be applied to the discharge of a like amount of interest upon those bonds when due. Any expense incurred by the issuing officials for advertising, engraving, printing, clerical, authenticated, registering, trustees, escrow agents, legal, financial, advisory or other services necessary or convenient to carry out the duties imposed upon them by the provisions of this act, as well as the overhead and other expenses of the Department of the Treasury properly allocable to the cost of the State Treasurer performing the duties provided in this act, shall be paid from the proceeds of the sale of the bonds, by the State Treasurer upon warrant of the Comptroller of the Treasury, in the same manner as other obligations of the State are paid.
L.1985,c.74,s.16.
2023 New Jersey Revised Statutes › Title 49 - Sale of Securities › Section 49:2B-17 - Maturities

49:2B-17. Maturities
17. Each series of refunding bonds shall mature, including any sinking fund redemptions, at those times not later than five years following the latest scheduled maturity date, determined without regard to any redemptions prior thereto, of any of the outstanding bonds to be refunded thereby, but in no event later than 35 years following the date of issuance of the refunding bonds, and in those amounts as the issuing officials shall determine in accordance with the provisions of this act. The issuing officials may reserve to the State by appropriate provision in the refunding bonds of any series the power to redeem all or any of those bonds prior to maturity at prices and upon such terms and conditions as may be provided in those bonds.
L.1985,c.74,s.17.
2023 New Jersey Revised Statutes › Title 49 - Sale of Securities › Section 49:2B-19 - Appropriations

49:2B-19. Appropriations
19. To provide funds to meet the interest and principal payment requirements for the refunding bonds issued under this act and outstanding, there is hereby appropriated in the order following:
a. Revenue derived from the collection of taxes as provided by the "Sales and Use Tax Act," P.L.1966, c.30 (C.54:32B-1 et seq.), or so much thereof as may be required; and
b. If in any year or at any time funds, as hereinabove appropriated, necessary to meet interest and principal payments upon outstanding refunding bonds, be insufficient or not available, then and in that case there shall be assessed, levied and collected annually in each of the municipalities of the counties of this State a tax on real and personal property upon which municipal taxes are or shall be assessed, levied and collected, sufficient to meet the interest on all outstanding refunding bonds issued under this act and on those refunding bonds as it is proposed to issue under this act in the calendar year in which that tax is to be raised and for the payment of refunding bonds falling due in the year following the year for which the tax is levied. The tax thus imposed shall be assessed, levied and collected in the same manner and at the same time as other taxes upon real and personal property are assessed, levied and collected. The governing body of each municipality shall cause to be paid to the county treasurer of the county in which each municipality is located, on or before December 15 in each year, the amount of tax herein directed to be assessed and levied, and the county treasurer shall pay the amount of that tax to the State Treasurer on or before December 20 in each year.
If on or before December 31 in any year the issuing officials shall determine that there are moneys in the General Fund beyond the needs of the State, sufficient to meet the principal of refunding bonds falling due and all interest payable in the ensuing calendar year, if the issuing officials shall by resolution so find and shall file their findings in the office of the State Treasurer, whereupon the State Treasurer shall transfer the moneys to a separate fund to be designated by him, and shall pay the principal and interest out of that fund as it shall become due and payable, and the other sources of payment of that principal and interest provided for in this section shall not then be available, and the receipts for that year from the tax specified in subsection a. of this section shall thereon be considered and treated as part of the General Fund, available for general purposes.
L.1985,c.74,s.19.
2023 New Jersey Revised Statutes › Title 49 - Sale of Securities › Section 49:2B-20 - Insufficiency of funds

49:2B-20. Insufficiency of funds
20. Should the State Treasurer, by December 31 of any year, deem it necessary, because of insufficiency of funds to be collected from the sources of revenues as provided in this act, to meet the interest and principal payments for the year after the ensuing year, then the State Treasurer shall certify to the Comptroller of the Treasury the amount necessary to be raised by taxation for those purposes, the amount to be assessed, levied and collected for and in the ensuing calendar year. In that case the Comptroller of the Treasury shall, on or before March 1 following, calculate the amount in dollars to be assessed, levied and collected in each county. That calculation shall be based upon the corrected assessed valuation of the county for the year preceding the year in which the tax is to be assessed, but the tax shall be assessed, levied and collected upon the assessed valuation of the year in which the tax is assessed and levied. The Comptroller of the Treasury shall certify that amount to the county board of taxation and the county treasurer of each county. The county board of taxation shall include the proper amount in the current tax levy of the several taxing districts of the county in proportion to the ratables as ascertained for the current year.
L.1985,c.74,s.20.
2023 New Jersey Revised Statutes › Title 49 - Sale of Securities › Section 49:2B-21 - Reports, legislative authority

49:2B-21. Reports, legislative authority
21.a. The issuing officials named in section 6 of this act shall cause to be prepared and delivered to the Joint Appropriations Committee's Subcommittee on Transfers, or its successor, reports or information as the subcommittee may request from time to time concerning the use of the authority vested in the issuing officials by this act.
b. upon the decision by the issuing officials to issue refunding bonds pursuant to section 5, and prior to the sale of those bonds, the issuing officials shall transmit to the Joint Appropriations Committee's Subcommittee on Transfers a report that a decision has been made, reciting the basis on which the decision was made, including an estimate of the debt service savings to be achieved and the calculations upon which the issuing officials relied when making the decision to issue refunding bonds. The report shall also disclose the intent of the issuing officials to issue and sell the refunding bonds at public or private sale and the reasons therefor.
c. The Joint Appropriations Committee's Subcommittee on Transfers shall have authority to approve or disapprove the sale of refunding bonds as included in each report submitted in accordance with subsection b. of this section. The subcommittee shall notify the issuing officials in writing of the approval or disapproval as expeditiously as possible.
d. No refunding bonds shall be issued unless the report has been submitted to and approved by the Joint Appropriations Committee's Subcommittee on Transfers as set forth in subsection b. of this section.
e. Within 30 days after the sale of the refunding bonds, the issuing officials shall notify the Subcommittee on Transfers of the result of that sale, including the prices and terms, conditions and regulations concerning the refunding bonds, the actual amount of debt service savings to be realized as a result of the sale of refunding bonds, and the intended use of the proceeds from the sale of those bonds pursuant to section 13 of this act.
f. The subcommittee shall, however, review all information and reports submitted in accordance with this section and may, on its own initiative, make observations and recommendations to the issuing officials, or to the Legislature, or both, as it deems appropriate.
L.1985,c.74,s.21.
2023 New Jersey Revised Statutes › Title 49 - Sale of Securities › Section 49:3-47 - Title amended; "act" defined.

49:3-47 Title amended; "act" defined.
30. This act amending and supplementing the "Uniform Securities Law (1967)" shall be known and may be cited as the "Uniform Securities Law (1997)." "Act" as used in this revision means this 1997 act amending and supplementing the "Uniform Securities Law (1967)."
L.1967,c.93,s.30; amended 1997, c.276, s.1.
2023 New Jersey Revised Statutes › Title 49 - Sale of Securities › Section 49:3-51 - Applicability of act.

49:3-51 Applicability of act.
4. (a) Sections 5, 8, subsection (a) of section 9, and sections 13 and 24 of P.L.1967, c.93 (C.49:3-52, 49:3-55, 49:3-56, 49:3-60 and 49:3-71) apply to persons who sell or offer to sell when (1) an offer to sell is made in this State, or (2) an offer to buy is made or accepted in this State;
(b) Sections 5, 8 and subsection (a) of section 9 of P.L.1967, c.93 (C.49:3-52, 49:3-55 and 49:3-56) apply to persons who buy or offer to buy when (1) an offer to buy is made in this State, or (2) an offer to sell is made or accepted in this State;
(c) For the purpose of this section, except to the extent the bureau chief may by rule or order determine, an offer to sell or to buy is made in this State, whether or not either party is then present in this State, when the offer (1) originates from this State or (2) is directed by the offeror to this State and received at the place to which it is directed (or at any post office in this State in the case of a mailed offer);
(d) For the purpose of this section, an offer to buy or to sell is accepted in this State when acceptance (1) is communicated to the offeror in this State and (2) has not previously been communicated to the offeror, orally or in writing, outside this State; and acceptance is communicated to the offeror in this State, whether or not either party is then present in this State, when the offeree directs it to the offeror in this State reasonably believing the offeror to be in this State and it is received at the place to which it is directed (or at any post office in this State in the case of a mailed acceptance);
(e) (Deleted by amendment, P.L.1997, c.276.)
(f) Sections 6, 8 and subsection (c) of section 9 of P.L.1967, c.93 (C.49:3-53, 49:3-55 and 49:3-56), so far as investment advisers are concerned, apply when any act instrumental in effecting prohibited conduct is done in this State, whether or not either party is then present in this State.
L.1967,c.93,s.4; amended 1997, c.276, s.4.
2023 New Jersey Revised Statutes › Title 49 - Sale of Securities › Section 49:3-52 - Unlawful activities

49:3-52. Unlawful activities
It shall be unlawful for any person, in connection with the offer, sale, or purchase of any security, directly or indirectly
(a) To employ any device, scheme, or artifice to defraud;
(b) To make any untrue statement of a material fact or to omit to state a material fact necessary in order to make the statements made, in the light of the circumstances under which they are made, not misleading;
(c) To engage in any act, practice, or course of business which operates or would operate as a fraud or deceit upon any person;
(d) To fail to deliver the prospectus filed under the "Securities Act of 1933" to each purchaser of a security registered under that act, in accordance with the prospectus delivery requirements of that act.
L. 1967, c. 93, s. 5. Amended by L. 1985, c. 405, s. 4.
2023 New Jersey Revised Statutes › Title 49 - Sale of Securities › Section 49:3-52.1 - Prohibitions relative to securities.

49:3-52.1 Prohibitions relative to securities.
5. (a) Without limiting the general applicability of section 5 of P.L.1967, c.93 (C.49:3-52), a person may not:
(1) quote a fictitious price with respect to a security;
(2) effect a transaction in a security which involves no change in the beneficial ownership of the security for the purpose of creating a false or misleading appearance of active trading in a security or with respect to the market for the security;
(3) enter an order for the purchase of a security with the knowledge that an order of substantially the same size and at substantially the same time and price for the sale of the security has been, or will be, entered by or for the same, or affiliated, person for the purpose of creating a false or misleading appearance of active trading in a security or with respect to the market for the security;
(4) enter an order for the sale of a security with knowledge that an order of substantially the same size and at substantially the same time and price for the purchase of the security has been, or will be, entered by or for the same, or affiliated, person for the purposes of creating a false or misleading appearance of active trading in a security or with respect to the market for the security; or
(5) employ any other deceptive or fraudulent device, scheme, or artifice to manipulate the market in a security.
(b) A transaction effected in compliance with, or conduct that does not violate, the applicable provisions of the "Securities Exchange Act of 1934" and the rules and regulations of the Securities and Exchange Commission thereunder is not a violation of subsection (a) of this section.
L.1997,c.276,s.5.
2023 New Jersey Revised Statutes › Title 49 - Sale of Securities › Section 49:3-54 - False, misleading statements.

49:3-54 False, misleading statements.
7. It is unlawful for any person to make or cause to be made, in any document filed with the bureau or in any proceeding, investigation or examination conducted under this act, any statement which is, at the time and in the light of the circumstances under which it is made, false or misleading in any material respect.
L.1967,c.93,s.7; amended 1997, c.276, s.7.