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Current as of January 01, 2024 | Updated by Findlaw Staff
For each of the following conditions, any transfer or assumption of functions or service that occurs shall be deemed to have occurred in the base year, and the “base year appropriations” component of the formula shall be adjusted to reflect the increase or decrease of State appropriations necessitated by the transfer or assumption:
a. If any function or service performed by the State is transferred to, or its costs of operation or performance are assumed by, any county or municipality, or if any function or service performed by any county or municipality is transferred to, or its costs of operation or performance are assumed by the State; and
b. If any function or service performed by the State is transferred to, or its costs of operation or performance are assumed by, any agency or instrumentality of the State or of any county or municipality, with the power to issue bonds to finance the undertaking of any function or the performance of any service, or if any function or service performed by any agency or instrumentality of the State or of any county or municipality is transferred to, or its costs of operation or performance are assumed by the State. The word “bonds” as used in this subsection means bonds which do not constitute a debt or liability of the State or of any of its counties or municipalities or a pledge of the faith and credit of the State or of any of its counties or municipalities.
Cite this article: FindLaw.com - New Jersey Statutes Title 52. State Government, Departments and Officers 52 § 9H-27 - last updated January 01, 2024 | https://codes.findlaw.com/nj/title-52-state-government-departments-and-officers/nj-st-sect-52-9h-27/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.
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