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Section 40A:20-13.1 - Tax exemption

NJ Rev Stat § 40A:20-13.1 (2019) (N/A)
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40A:20-13.1. Tax exemption

4. The provisions of sections 12 and 13 of P.L.1991, c.431 (C.40A:20-12 and C.40A:20-13) to the contrary notwithstanding, a qualified subsidized housing project may be exempted from taxation for such period of time as the federal agency subsidizing the project may require as a condition of the subsidy. The exemption from taxation may be extended for an additional period of time as may be required in order to secure a continuation of federal subsidies after the expiration of the initial subsidy period.

L.1994,c.87,s.4.

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Section 40A:20-13 - Termination of tax exemption.
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Section 40A:20-13.2 - Certain tax exemptions may be continued.