N.J. Stat. § 52:14-17.1a

Current through L. 2024, c. 80.

Section 52:14-17.1a - Computation to determine adjustment of rate; formula

On the first business day of January and the first business day of July of each year a computation shall be made to determine whether the mileage reimbursement allowed in section 1 of P.L. 1943, c. 188 (C. 52:14-17.1) is to be adjusted on that date according to the following formula:

C.P. -B.P.

Adjustment = ...........

where:

a. Adjustment means the result of the above calculation in the number of whole cents plus one-half cent where the remainder is five-ninths or greater;

b. C.P. means the price paid for regular gasoline by the State on the date of the computation; and

c. B.P. means the price paid for regular gasoline by the State on the effective date of this amendatory and supplementary act.

N.J.S. § 52:14-17.1a

L.1980, c.19, s.2, eff. 3/26/1980.