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N.J. Stat. § 40A:4-55.18

Distressed municipality defined

New Jersey · New Jersey Statutes Title 40A — Municipalities and Counties · Status: effective

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N.J. Stat. § 40A:4-55.18, Distressed municipality defined, New Jersey, version 1 as recorded 2026-09-28, yourstate.us, https://yourstate.us/provision/1468596
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As used in this act the term "distressed municipality" means any municipality required to pay a judgment in an amount which would require an increase in the municipal purposes levy for any year in excess of 40% over the immediately preceding year.