40:12-15.12 Proposition authorizing levy to support arts and culture.

2. a. The governing body of a municipality may, by ordinance, submit to the voters of the municipality, in a general or special election, a proposition authorizing an annual levy, in an amount or at a rate that the governing body deems appropriate, to be established for the purpose of supporting arts and culture. Upon approval of the proposition by a majority of the votes cast by the voters of the municipality, the governing body of the municipality may annually raise by taxation a sum not to exceed the amount or rate set forth in the proposition approved by the voters for the purposes specified therein. The arts and culture levy shall become effective in the next budget year following the year in which the levy has been approved by the voters.

b. Amounts raised by the levy imposed pursuant to this section shall be deposited into an "arts and culture trust fund" to be created by the municipality, and shall be used exclusively for arts and culture, except that the municipality may deposit such amounts into the current fund of that municipality for uses not related to arts and culture if the Director of the Division of Local Government Services in the Department of Community Affairs finds that the municipality is in fiscal distress. Any interest or other income earned on monies deposited into the arts and culture trust fund shall be credited to the fund to be used for the same purposes as the principal. A municipality may deposit other funds into the arts and culture trust fund, as it may, from time to time, deem appropriate.

c. The governing body of a municipality may, by ordinance, submit to the voters of the municipality in a general or special election a proposition amending, supplementing, or repealing, a proposition previously submitted, approved, and implemented as provided pursuant to this section. The proposition may propose to eliminate the annual levy or change the amount or rate of the annual levy. Upon approval of an amendatory or supplementary proposition by a majority of the votes cast by the voters of the municipality, the governing body of the municipality shall implement it in the same manner as set forth in P.L.2019, c.335 (C.40:12-15.11 et al.) for implementation of the original proposition.

d. Upon petition to the governing body of a municipality signed by the voters of the municipality equal in number to at least 15 percent of the votes cast therein at the last preceding general election, filed with the governing body at least 90 days before a general or special election, the governing body of the municipality shall submit to the voters of the municipality in the general or special election the proposition otherwise authorized pursuant to subsection a. or subsection c. of this section, as the case may be.

L.2019, c.335, s.2.