New Jersey § 55:14K-108 Tax credit purchaser, contract, New Jersey Housing and Mortgage Finance Agency.

New Jersey Statutes

§ 55:14K-108 — Tax credit purchaser, contract, New Jersey Housing and Mortgage Finance Agency.

New Jersey § 55:14K-108

Title 55TENEMENT HOUSES AND PUBLIC HOUSING

This text of New Jersey § 55:14K-108 (Tax credit purchaser, contract, New Jersey Housing and Mortgage Finance Agency.) 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. § 55:14K-108 (2026).

Text

5.A purchaser that submits a successful bid for the purchase of tax credits pursuant to section 4 of P.L.2025, c.111 (C.55:14K-107) shall enter into a contract with the agency that includes payment information and the commitments made by the purchaser in its auction bid. A purchaser that submits a successful bid for the purchase of tax credits pursuant to section 4 of P.L.2025, c.111 (C.55:14K-107) shall pay by wire transfer the amount specified in its auction bid to the agency. Upon receipt thereof, the Executive Director of the agency shall notify the director to issue tax credits in the amount approved. Failure by the purchaser to pay the amount agreed upon on time shall disqualify the purchaser from purchasing the tax credits and the agency may reassign the right to purchase the credi

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5. A purchaser that submits a successful bid for the purchase of tax credits pursuant to section 4 of P.L.2025, c.111 (C.55:14K-107) shall enter into a contract with the agency that includes payment information and the commitments made by the purchaser in its auction bid. A purchaser that submits a successful bid for the purchase of tax credits pursuant to section 4 of P.L.2025, c.111 (C.55:14K-107) shall pay by wire transfer the amount specified in its auction bid to the agency. Upon receipt thereof, the Executive Director of the agency shall notify the director to issue tax credits in the amount approved. Failure by the purchaser to pay the amount agreed upon on time shall disqualify the purchaser from purchasing the tax credits and the agency may reassign the right to purchase the credits to another bidder. Failure by the purchaser to adhere to the commitments made in its auction bid shall disqualify the purchaser from participating in future auctions and may result in the recapture of a portion of the tax credits. L.2025, c.111, s.5.