48:4-14.2. Payment in lieu of franchise taxes on autobusses by state to municipalities; annual certification of amount due
In order that no municipality shall suffer a loss in revenue due to the repeal of R.S. 48:4-14, the State shall annually remit to each municipality which received franchise taxes pursuant to said section an amount equal to that received by the municipality during the calendar year 1972, upon certification of said amount to the Director of the Division of Local Finance.
L.1972, c. 211, s. 7, eff. Dec. 31, 1972.