N.J. Stat. § 18A:7G-10
Current through L. 2024, c. 80.
For each issuance of school bonds or certificates of participation issued for a school facilities project approved by the commissioner prior to the effective date of P.L. 2000, c. 72(C.18A:7G-1 et al.):
Aid is the sum of A
where
A = B x EQAID/AB
and where
B is the district's total debt service or lease purchase payment for the individual issuance for the fiscal year;
EQAID is the district's equalization aid amount determined pursuant to section 11 of P.L. 2007, c. 260(C.18A:7G-53); and
AB is the district's adequacy budget determined pursuant to section 9 of P.L. 2007, c. 260(C.18A:7F-51).
For county special services school districts, EQAID/AB shall be that of the county vocational school district in the same county.
N.J.S. § 18A:7G-10