LEGISLATIVE FISCAL ESTIMATE
ASSEMBLY, No. 5648
STATE OF NEW JERSEY
220th LEGISLATURE
DATED: JUNE 30, 2023
SUMMARY
Synopsis: Authorizes State Treasurer to sell as surplus property certain land and
improvements in Township of Morris in Morris County.
Type of Impact: One-time revenue increase to State General Fund.
Agencies Affected: Department of the Treasury.
Office of Legislative Services Estimate
Fiscal Impact One-time Impact
State Revenue Increase $580,000 - $890,000
 The Office of Legislative Services (OLS) estimates that this bill will result in a one-time
revenue increase to the State dependent upon the sale of the surplus property as executed under
the terms and conditions approved by the State House Commission.
 The sale price remains indiscernible at this time. With that said, the State House Commission
agenda from June 8, 2023 states that the Department of the Treasury requests the sale of the
surplus property at its appraised value of $890,000. Additional information suggests that the
property’s liquidation price is $580,000.
BILL DESCRIPTION
This bill authorizes the Department of the Treasury to sell as surplus property certain State-
owned land and improvements located in the Township of Morris in Morris County to the township
pursuant to the terms and conditions approved by the State House Commission.
Office of Legislative Services Legislative Budget and Finance Office
State House Annex Phone (609) 847-3105
P.O. Box 068 Fax (609) 777-2442
Trenton, New Jersey 08625 www.njleg.state.nj.us
 FE to A5648
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FISCAL ANALYSIS
EXECUTIVE BRANCH
None received.
OFFICE OF LEGISLATIVE SERVICES
The OLS estimates that this bill will result in a one-time revenue increase to the State
dependent upon the sale of the surplus property as executed under the terms and conditions
approved by the State House Commission.
The sale price remains indiscernible at this time. With that said, the State House Commission
agenda from June 8, 2023 states that the Department of the Treasury requests the sale of the surplus
property at its appraised value of $890,000. Additional information suggests that the property’s
liquidation price is $580,000.
Section: State Government
Analyst: Anna Harris
Assistant Fiscal Analyst
Approved: Thomas Koenig
Legislative Budget and Finance Officer
This legislative fiscal estimate has been produced by the Office of Legislative Services due to the
failure of the Executive Branch to respond to our request for a fiscal note.
This fiscal estimate has been prepared pursuant to P.L.1980, c.67 (C.52:13B-6 et seq.).