{"data":{"id":"us-nj/n.j.-stat.-40a-20-13.2","jurisdiction":"us-nj","citation":"N.J. Stat. § 40A:20-13.2","heading":"Certain tax exemptions may be continued.","body":"1.\tNotwithstanding 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, the governing body of a municipality may agree to continue a tax exemption for a State or federally subsidized housing project beyond the date on which existing first mortgage financing is fully paid so long as the project remains subject to affordability controls pursuant to:\na.\tproject-based federal rental assistance, authorized pursuant to section 8 of the United States Housing Act of 1937 (42 U.S.C. s.1437f), or other federal or State project-based assistance;\nb.\tthe Uniform Housing Affordability Controls promulgated by the New Jersey Housing and Mortgage Finance Agency; or\nc.\tthe rent and income limits established by the federal Low Income Housing Tax Credit program pursuant to section 42 of the Internal Revenue Code (26 U.S.C. s.42).\nL.2019, c.297, s.1.","path":["TITLE 40A MUNICIPALITIES AND COUNTIES"],"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":"28db7665f1562ff7e873f03f3126913ae78f1f9618b6d9fdeff133ce9d3e6b79","source_id":"us-nj","stale":true,"prev":"us-nj/n.j.-stat.-40a-20-13.1","next":"us-nj/n.j.-stat.-40a-20-14"},"notice":"GroundRules: Original legal text. Not legal advice."}