{"data":{"id":"us-nj/n.j.-stat.-34-1b-198","jurisdiction":"us-nj","citation":"N.J. Stat. § 34:1B-198","heading":"Submission of ordinance as application to State Treasurer; criteria for approval.","body":"9.\tWhen an ordinance establishing or amending a district has passed first reading, it shall be submitted to the State Treasurer as an application, together with all included and incorporated certificates and documents and such additional documentation as the treasurer shall require.\nThe treasurer shall approve the ordinance if it is determined that:\na.\tthe planned sports and entertainment facility is likely to be realized and would not likely be accomplished by private enterprise without the creation of the district and the financing of the proposed project or projects;\nb.\tthe $20 million commitment of private investment is assured;\nc.\tthe creation of the district will contribute to the economic development of the municipality; and\nd.\tthe size of the proposed district, the financial needs in order to accomplish the project and the amount of the revenues anticipated to be raised from the discretionary taxes do not exceed the size and amount necessary to accomplish the purposes of the plan.\nL.2007, c.30,s.9.","path":["TITLE 34 LABOR AND WORKMEN'S COMPENSATION"],"source_url":"https://pub.njleg.state.nj.us/statutes/STATUTES-TEXT.zip","current_through":"P.L.2025, c.405, and J.R.22","vintage":"","retrieved_at":"2026-08-27T17:54:13Z","sha256":"168d24ffcba05a75e30d0ede716e8ac19b60c62e96f968dc371b0f9f0840409a","source_id":"us-nj","stale":true,"prev":"us-nj/n.j.-stat.-34-1b-197","next":"us-nj/n.j.-stat.-34-1b-199"},"notice":"GroundRules: Original legal text. Not legal advice."}