26:2H-12.18 Reserve requirement as fulfillment of utilization requirements.
3.The 10% reserve requirement of this act shall be recognized to fulfill all or a portion, as applicable, of low and moderate income or Medicaid utilization requirements contained in municipal ordinances and shall satisfy all or a portion, as applicable, of low income housing requirements for assisted living residences or comprehensive personal care homes that are financed by bonds mandating low income housing as a condition of financing.
L.2001,c.234,s.3.
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Last modified: October 11, 2016