54:4-8.66b Erroneous rebates or credits.
15.Any person who receives a homestead rebate or credit otherwise authorized under this act but which has been paid in error and which is recoverable by the director, and fails to return the payment within 45 days of receiving notice from the director that such payment was erroneous, shall pay, in addition to the amount of the erroneous rebate or credit, interest at the rate prescribed in R.S.54:49-3, assessed for each month or fraction thereof, compounded annually at the end of each year, from the date next following the 45th day after receiving the notice from the director that such payment was erroneous until the date of the return of the erroneous payment.
L.1999, c.63, s.15; amended 2004, c.40, s.14; 2007, c.62, s.30.
Section: Previous 54-4-8.61 54-4-8.62 54-4-8.63 54-4-8.64 54-4-8.65 54-4-8.66 54-4-8.66a 54-4-8.66b 54-4-8.66c 54-4-8.66d 54-4-8.66e 54-4-8.67 54-4-8.68 54-4-8.69 54-4-8.70 Next
Last modified: October 11, 2016