This bill establishes new procedures for the sale of certain State-owned properties that have been used by nonprofit agencies or organizations contracted with the Division of Developmental Disabilities for at least 10 years to provide housing for adults with developmental disabilities. It allows these agencies or organizations to pay off any liens on the property at a reduced rate of 50 percent and mandates that the Department of the Treasury transfer any proceeds from the sale directly to the agency or organization. This financial support is intended to facilitate the purchase of new properties or the renovation of existing ones, as well as to enhance the services provided to adults with developmental disabilities.

Currently, nonprofit agencies face significant barriers when selling State-owned properties, as they are required to return all sale proceeds to the State and pay off any liens in full. This bill aims to alleviate these challenges by reducing the lien pay-off requirement and enabling agencies to retain sale proceeds for reinvestment in housing and services for individuals with developmental disabilities. The Department of the Treasury, in consultation with the Department of Human Services, will also be responsible for creating necessary regulations to implement these changes effectively.