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New Jersey Statutes Title 40A. Municipalities and Counties 40A § 20-16.1

Current as of January 01, 2024 | Updated by Findlaw Staff

The provisions of section 16 of P.L.1991, c. 431 (C.40A:20-16) to the contrary notwithstanding, a nonprofit corporation that is the sponsor of a qualified subsidized housing project shall not be required to pay over to the municipality its net profits, if any, for any year in which it is subject to federal requirements concerning residual receipts.

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Cite this article: FindLaw.com - New Jersey Statutes Title 40A. Municipalities and Counties 40A § 20-16.1 - last updated January 01, 2024 | https://codes.findlaw.com/nj/title-40a-municipalities-and-counties/nj-st-sect-40a-20-16-1/

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