New Jersey Statutes
§ 40A:20-16.1. Payment of net profits to municipality; condition
New Jersey·Title 40A MUNICIPALITIES AND COUNTIES
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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15
§ 40A:20-1
Short title§ 40A:20-10
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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
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