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3. a. The Commissioner of Education shall recommend to the State Treasurer whether an advance State aid payment should be made to a school district for which a State monitor has been appointed. The commissioner's recommendation shall be based on whether the payment is necessary to ensure the provision of a thorough and efficient education. An advance State aid payment shall be recorded by the school district as revenue for budget purposes in the school year in which the advance State aid payment is provided.
b. The advance State aid payment shall be repaid by the school district through automatic reductions in the State aid provided to the school district in subsequent years. The term of the repayment shall not exceed 10 years, but may be for a shorter term as determined by the State Treasurer. At any time during the term of the repayment the State Treasurer, in consultation with the Commissioner of Education, may determine to impose interest on the unpaid balance ; except that interest shall not be imposed in the case of a school district for which a State monitor is appointed within 90 days of the effective date of this act. The commissioner shall transfer the amount of the reduction in State aid to the account established pursuant to section 5 of this act.
c. In any year in which the school district's undesignated general fund balance is greater than 1.5\% of general fund expenditures, the amount which exceeds 1.5\% shall be an additional amount applied to the following year's repayment of the advance State aid payment and the school district's State aid shall be reduced by this additional amount in that following year.
L.2006,c.15,s.3.
Jun 29, 2023
Active
Essex County
Essex County, NJ
MER L 000825-15 06/11/2015 Pg 1 of3 Trans ID: LCV2017360178 SAL ) STEVENS & LEE 100 Lenox Drive, Suite 200 Lawrenceville, NJ 08648 …
Apr 14, 2015
Closed
Mercer County, NJ
Jun 11, 2015
Paul Innes
ESX-L-003700-22 04/25/2023 11:15:20 AM Pg 1 of 2 Trans ID: LCV20231359521 Daniel T. DiCicco (ID # 069742013) RONAN, TUZZIO & GIANNONE, P.C. One Hovchild Plaza 4000 Route 66, Suite 231 Tinton Falls, New Jersey 07753 (732) 922-3300 Attorneys for Defendants/Third-Party Plaintiffs, ORANGE, NEWARK, ELIZABETH BUS, INC. i/p/a “O.N.E. Bus, Inc.” and COACH USA, INC. i/p/a “Coach USA” File No. 101.14475 MKT CONCETTA BARBATO, SUPERIOR COURT OF NEW JERSEY …
Jun 23, 2022
Active
OCN L 003482-17 01/29/2018 Pg 1 of 7 Trans ID: LCV2018173418 Steven Secare, Esq., Attorney I.D. No.: 279471972 JAN 7 ay i" SECARE & HENSEL 16 Madison Avenue Toms River, New Jersey 08753 (732) 349-2800 Attorneys for Defendants Township of Lakewood and Township Committee of the Township of Lakewood NEW JERSEY SHORE BUILDERS SUPERIOR COURT OF NEW JERSEY ASSOCIATION, A Non-Profit New Jersey LAW DIVISION…
MID-L-005421-23 09/26/2023 3:36:34 PM Pglof7 Trans ID: LCV20232949949 Tan 2. Winograd - 041302016 PRESSLER, FELT & WARSHAW, LLP Debit Acct # 140275 Attorneys At Law Using reference # 231834767 7 Entin Rd. Parsippany, NJ …
MON-L-002067-23 07/03/2023 11:27:23 AM Pglof7 Trans ID: LCV20231995286 Patrick Wong - 235902019 PRESSLER, FELT & WARSHAW, LLP Debit Acct # 140275 Attorneys At Law Using reference # 231291346 7 Entin Rd. Parsippany, NJ …
Monmouth County, NJ
Jul 03, 2023
David A Nitti
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