New Jersey A3586 mandates annual reports on state-owned property and its potential for affordable housing.
New Jersey A3586 requires the Division of Purchase and Property in the Department of the Treasury to create an inventory of all state-owned real property. In consultation with housing development experts, the division must analyze the feasibility of using this property for low and moderate income housing. The division must submit an initial report to the Governor and Legislature within 13 months of the bill's effective date, followed by annual updates. After each annual submission, the director must post the report on the division's website. The bill takes effect immediately.
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