NJ A3586

Requires the Department of Treasury and State House Commission to compile a biennial inventory of all unutilized State-owned real property, including property held by agencies, authorities, and other State instrumentalities.

State entities including the NJ Economic Development Authority, NJ Redevelopment Authority, and NJ Housing and Mortgage Finance Agency must submit lists of unutilized properties under their jurisdiction every two years.

The inventory must include an analysis of each property's feasibility for development, redevelopment, or renovation as low-income and moderate-income housing.

The initial report must be submitted to the Governor and Legislature within 13 months of the law's effective date, with biennial updates thereafter and posting on the Treasury Department's website.

Defines "unutilized property" as State-owned parcels not providing employee housing, not generating revenue through lease agreements, and not actively serving a legitimate public purpose.