New Jersey Assembly Bill A4519

New Jersey 2024-2025 Regular Session

• Introduced: 6/6/24
• Refer: 6/6/24

Caption

Establishes procedures for sale of certain State-owned properties used by agencies or organizations providing housing to adults with developmental disabilities.

Impact

Upon the sale of such properties, the bill permits these agencies to discharge any liens against the properties at a reduced rate of 50%. Additionally, it mandates that the state's Department of the Treasury transfer all revenues or proceeds from the sale directly to the nonprofit agency. This shift in policy is designed to empower these organizations to reinvest the funds either by purchasing new properties, renovating existing ones, or expanding their services to better cater to adults with developmental disabilities.

Summary

A4519 is a newly introduced bill in the New Jersey Legislature aimed at establishing procedures for the sale of certain state-owned properties utilized by agencies or organizations that provide housing for adults with developmental disabilities. The bill seeks to amend existing state laws to minimize financial barriers faced by nonprofit providers when selling properties that have previously served individuals with disabilities. Under this bill, agencies that have contracted with the Division of Developmental Disabilities for a minimum of 10 years will receive specific privileges regarding the sale of these properties.

Contention

The bill addresses significant hurdles that nonprofit organizations face when trying to sell state-owned properties. Previously, any proceeds from such sales were required to be returned to the state, coupled with the obligation to pay off any liens fully. Supporters argue that this legislation alleviates some financial pressure, allowing nonprofits greater flexibility to develop properties to meet the housing needs of adults with developmental disabilities. However, critics are yet to express their stance on this bill, as discussions around specific concerns or amendments are likely to unfold during the legislative process.