SENATE BUDGET AND APPROPRIATIONS COMMITTEE

STATEMENT TO

SENATE, No. 3958

STATE OF NEW JERSEY

DATED:  JUNE 17, 2021

      The Senate Budget and Appropriations Committee reports favorably Senate Bill No. 3958.

      This bill authorizes the Capital City Redevelopment Corporation, on behalf and with the consent of the State Treasurer, to sell and convey, as surplus real property, all of the State’s right, title, and interest in and to the property formerly known as the Taxation building, which contains 0.55+- acres of land and improvements located at Block 1902, Lot 1, in the City of Trenton, County of Mercer.  The property was declared surplus to the needs of the State on May 21, 2021.  The property will be sold pursuant to a request for proposal process approved by the State House Commission.

      The bill appropriates the proceeds of the sale to the corporation.

FISCAL IMPACT:

This bill is not certified as requiring a fiscal note.