New Jersey Statutes 54:4-8.75n. Restrictions, impact, interference
Terms Used In New Jersey Statutes 54:4-8.75n
- Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
- State: extends to and includes any State, territory or possession of the United States, the District of Columbia and the Canal Zone. See New Jersey Statutes 1:1-2
a. the full funding in each State fiscal year necessary to satisfy the requirement in Article VIII, Section IV, paragraph 1 of the New Jersey Constitution that the Legislature provide for the maintenance and support of a thorough and efficient system of free public schools for the instruction of children in the State between the ages of five and 18 years;
b. the full funding of the veterans’ $250 property tax deduction, required to be provided to eligible veterans pursuant to Article VIII, Section I, paragraph 3 of the New Jersey Constitution;
c. the full funding of the senior citizens’ and disabled persons’ $250 property tax deduction authorized by Article VIII, Section I, paragraph 4 of the New Jersey Constitution;
d. the full payment of the contributions required by law to be made to the State-administered retirement systems; and
e. the maintenance of a budgetary surplus target of no less than 12 percent of total expenditures from the General Fund and the Property Tax Relief Fund in a given State fiscal year.
L.2023, c.75, s.17.