Authorizes $150 million in bonds to fund grants for municipalities to purchase development rights of proposed warehouse sites.

The "Warehouse Development Control Bond Act" authorizes the issuance of $150 million in State bonds to provide grants to municipalities for purchasing development rights of proposed warehouse sites. The Department of Environmental Protection would establish procedures for the grants, which would be voluntary and open to all municipalities. To be eligible, a municipality must acquire the development rights in the form of an easement, provide matching funds of at least 50% of the sale price, and not condemn or threaten to condemn the site.

Authorizes $150 million in bonds to fund grants for municipalities to purchase development rights of proposed warehouse sites.

The "Warehouse Development Control Bond Act" authorizes the issuance of $150 million in State bonds to provide grants to municipalities for purchasing development rights of proposed warehouse sites. The Department of Environmental Protection would establish procedures for the grants, which would be voluntary and open to all municipalities. To be eligible, a municipality must acquire the development rights in the form of an easement, provide matching funds of at least 50% of the sale price, and not condemn or threaten to condemn the site.