New Jersey Acts Saved from Repeal ACTS SAVED 48 § 12-31(1)

1. Whenever the time limited for the completion of any railroad authorized to be constructed within the state under any special or general act has expired, or shall expire before the thirty-first day of December, one thousand nine hundred and thirty-seven, such time shall be and the same is hereby extended for the further period of two years from the passage of this act; provided, however, that this act shall not apply unless money has actually been expended in surveys or location of route, or in acquisition of right-of-way or in construction since January first, one thousand eight hundred and eighty-six; provided, further, that this act shall not apply to any corporation unless such corporation shall first, and as the condition precedent to the exercise of any power granted by this act, file in the office of the secretary of state an agreement, to be approved by the governor and attorney general, waiving all right of exemption from taxation and from privileges and advantages arising from any law or contract, if any there be, establishing any special mode of taxation of any such corporation, and the further agreement to be bound by any general law of this state now in existence or that may be hereafter passed taxing such corporations as are now authorized to be taxed by the legislature of the state under any general law, and further agreeing that the exercise of any power granted by this act shall not in any way affect the rights of this state, if any there exist, to take the property of such corporations under any existing law of this state, and agreeing further that all laws affecting such corporations shall be subject to alteration or repeal by the legislature; provided, however, that any railroad company that has heretofore filed an agreement such as above described, under the provisions of any previous act of the legislature for extending the time for completing certain railroads, shall have the time for the completion of its railroad extended as herein above provided, without filing another such agreement under this act; provided, further, that any agreement that has heretofore been filed by any corporation under any previous act extending the time for completing certain railroads, shall be as binding as if filed under the provisions of this act.