40A:4-55.18 - Distressed municipality defined
40A:4-55.18. Distressed municipality defined
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.
L.1982, c. 66, s. 1, eff. July 12, 1982.