Authorizes State Treasurer to sell as surplus property certain land and improvements in Township of Morris in Morris County.
Impact
The passage of A536 is expected to enhance fiscal management by allowing the state to divest from surplus property that no longer serves its needs. The funds raised from this sale will contribute to a dedicated fund intended for alleviating state debt or assisting in future capital projects. The bill ensures that the property will be handled according to the terms set by the State House Commission, which brings a level of oversight and accountability to the transaction process.
Summary
Assembly Bill A536 is a legislative proposal that empowers the State Treasurer to sell specific land and improvements that are classified as surplus property. This particular piece of land is a 7.8-acre parcel situated in the Township of Morris, Morris County, and is identified as the former Regional Day School operated by the Department of Children and Families. The sale will be direct, based on an appraisal that values the property at $580,000, with the proceeds from this transaction designated for state debt relief or capital improvement projects.
Contention
While the bill appears to have straightforward objectives, any discussions around such bills typically revolve around the management of state assets and the priorities for the usage of funds from such sales. Critics may raise concerns about transparency in the bidding process and ensuring that the properties are sold at fair market value. Additionally, the historical significance or potential future uses of the property may be points of contention among local community members or stakeholders who may have an interest in preserving the site for educational or community purposes.
"S2 Appropriations Rescue Act"; appropriates $106.5 million to provide Emergency Supplemental Aid to certain school districts, including districts negatively impacted by effects of P.L.2018, c.67.