Bill Text: NJ A4573 | 2024-2025 | Regular Session | Introduced
Bill Title: Requires study of vacant commercial space for small businesses.
Spectrum: Moderate Partisan Bill (Democrat 4-1)
Status: (Introduced) 2024-09-23 - Reported and Referred to Assembly Labor Committee [A4573 Detail]
Download: New_Jersey-2024-A4573-Introduced.html
Sponsored by:
Assemblyman REGINALD W. ATKINS
District 20 (Union)
Assemblyman ROBERT J. KARABINCHAK
District 18 (Middlesex)
SYNOPSIS
Requires study of vacant commercial space for small businesses.
CURRENT VERSION OF TEXT
As introduced.
An Act requiring a study of vacant commercial space for small businesses and supplementing Title 52 of the Revised Statutes.
Be It Enacted by the Senate and General Assembly of the State of New Jersey:
1. The Business Action Center established in the Department of State pursuant to Reorganization Plan No. 003-2011 shall conduct a study on the impact of vacant commercial real estate in the State and shall prepare and submit a written report within one year of the effective date of P.L. , c. (pending before the Legislature as this bill) to the Governor and, pursuant to section 2 of P.L.1991, c.164 (C.52:14-19.1), to the Legislature, which shall include, but not be limited to, the following:
a. information concerning existing county and local government efforts to track vacant commercial real estate within their jurisdictions;
b. the progress and efforts of municipal governments in utilizing the "Abandoned Properties Rehabilitation Act," P.L.2003, c.210 (C.55:19-78 et seq.);
c. an assessment of any existing county and local government programs that provide financial or technical assistance to address vacant commercial real estate within their jurisdictions;
d. a survey of business owners and prospective business owners and their satisfaction with using private real estate resources to identify vacant commercial real estate; and
e. any further recommendations that may help guide business owners and prospective business owners in their search for vacant commercial real estate.
2. This act shall take effect on the 90th day next following the date of enactment.
STATEMENT
This bill requires the Business Action Center in the Department of State to conduct a study on the impact of vacant commercial real estate in the State and prepare a report within one year of the effective date of the bill to be submitted to the Governor and to the Legislature. The report is required to include, but not be limited to:
(1) information concerning existing county and local government efforts to track vacant commercial real estate within their jurisdictions;
(2) the progress and efforts of municipal governments in utilizing the "Abandoned Properties Rehabilitation Act;"
(3) an assessment of any existing county and local government programs that provide financial or technical assistance to address vacant commercial real estate within their jurisdictions;
(4) a survey of business owners and prospective business owners and their satisfaction with using private real estate resources to identify vacant commercial real estate; and
(5) any further recommendations that may help guide business owners and prospective business owners in their search for vacant commercial real estate.
