New Jersey Statutes
§ 40A:20-16.1. Payment of net profits to municipality; condition
New Jersey § 40A:20-16.1. Payment of net profits to municipality; condition
JurisdictionNew Jersey
Title 40AMUNICIPALITIES AND COUNTIES
This text of New Jersey § 40A:20-16.1. Payment of net profits to municipality; condition is published on Counsel Stack Legal Research, covering New Jersey primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.
Bluebook
N.J. Stat. Ann. § 40A:20-16.1. Payment of net profits to municipality; condition (2026).
Text
5.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. L.1994,c.87,s.5.
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Nearby Sections
15
§ 40A:20-1
Short title§ 40A:20-10
Provisions for transfer or sale.§ 40A:20-12
Tax exemption, duration.§ 40A:20-12.1. Nonapplicability of certain annual service charges
§ 40A:20-12.1. Nonapplicability of certain annual service charges§ 40A:20-13
Termination of tax exemption.§ 40A:20-13.1. Tax exemption
§ 40A:20-13.1. Tax exemption§ 40A:20-13.2
Certain tax exemptions may be continued.§ 40A:20-15
Excess profits of a limited dividend entity.§ 40A:20-16
Net profits of a nonprofit entity§ 40A:20-16.1. Payment of net profits to municipality; condition
§ 40A:20-16.1. Payment of net profits to municipality; condition§ 40A:20-17
Sale of land to an urban renewal entityCite This Page — Counsel Stack
Bluebook (online)
New Jersey § 40A:20-16.1. Payment of net profits to municipality; condition, Counsel Stack Legal Research, https://law.counselstack.com/statute/nj/40A/40A%3A20-16.1.%20Payment%20of%20net%20profits%20to%20municipality%3B%20condition.