New Jersey Administrative Code
Title 5 - COMMUNITY AFFAIRS
Chapter 30 - LOCAL FINANCE BOARD
Subchapter 18 - MUNICIPAL AND COUNTY CHARITABLE FUNDS
Section 5:30-18.13 - Charitable funds to function as dedicated trust fund without independent spending authority; impact on property tax levy cap
Universal Citation: NJ Admin Code 5:30-18.13
Current through Register Vol. 56, No. 18, September 16, 2024
(a) The fund administrator of a municipal or county charitable fund shall deposit charitable fund contributions into a dedicated trust fund without independent spending authority, wherein monies cannot be spent directly from the fund.
(b) The creation of a charitable contribution fund shall not impact a municipality's or county's property tax levy cap calculation.
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