LEGISLATIVE FISCAL ESTIMATE
[Second Reprint]
ASSEMBLY, No. 4035
STATE OF NEW JERSEY
221st LEGISLATURE
DATED: JULY 2, 2024
SUMMARY
Synopsis: Requires State to sell as surplus property certain land and
improvements in Morris County known as Central Park School.
Type of Impact: One-time State revenue increase; one-time expenditure increase for
Morris County.
Agencies Affected: Department of the Treasury; Morris County.
Office of Legislative Services Estimate
Fiscal Impact
One-Time State Revenue Increase $1.00
One-Time Expenditure Increase for
Morris County $1.00
 The Office of Legislative Services (OLS) concludes that this bill will result in a one-time
revenue increase to the State Debt Defeasance and Prevention Fund of one dollar for the sale
of the surplus property to the Morris County Educational Services Commission. Morris
County will experience a concurrent one-time expenditure increase of one dollar.
BILL DESCRIPTION
This bill requires the State Treasurer to sell as surplus property certain State-owned land and
improvements, known as the Central Park School, located in Morris Township of Morris County
to the Morris County Educational Services Commission 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
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FISCAL ANALYSIS
EXECUTIVE BRANCH
None received.
OFFICE OF LEGISLATIVE SERVICES
The OLS concludes that this bill will result in a one-time revenue increase to the State Debt
Defeasance and Prevention Fund of one dollar for the sale of the surplus property to the Morris
County Educational Services Commission. Morris County will experience a concurrent one-time
expenditure increase of one dollar.
Under current law, any revenue generated from State property sales are to be deposited into
the Debt Defeasance and Prevention Fund unless otherwise stated in the bill.
Section: State Government
Analyst: Camryn Mathews
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.).