52:27BBBB-8 Initiative, referendum approved by voters deemed advisory; exceptions.
10. In a municipality in need of stabilization and recovery, any initiative approved by the voters of the municipality pursuant to section 17-35 of P.L.1950, c.210 (C.40:69A-184) and any referendum approved pursuant to section 17-36 of P.L.1950, c.210 (C.40:69A-185) shall be advisory only and may be followed, or disregarded, by the Local Finance Board and the director in their discretion. The provisions of this section shall not apply to a referendum approved pursuant to section 11 of P.L.2016, c.4 (C.52:27BBBB-9).
L.2016, c.4, s.10.
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