A board of education of a local school district or of a local school district constituting part of a limited purpose regional district, the board of education or governing body of a non-operating school district, or the governing body of a municipality of a constituent district of a limited purpose regional district, part of an all purpose regional district, or part of a consolidated school district shall not be responsible for any further transitional payments required pursuant to this subsection following the end of the fifth school year following withdrawal.
N.J.S. § 18A:13-47.11