This bill mandates the Business Action Center within the Department of State to conduct a comprehensive study on the impact of vacant commercial real estate in New Jersey. The study is required to be completed within one year of the bill's effective date and must be submitted to both the Governor and the Legislature. The report will encompass various aspects, including existing efforts by county and local governments to track vacant properties, the utilization of the "Abandoned Properties Rehabilitation Act" by municipalities, and an assessment of programs that provide financial or technical assistance for addressing vacant commercial real estate.

Additionally, the report will include a survey of business owners and prospective business owners regarding their satisfaction with private real estate resources for identifying vacant commercial spaces, as well as any further recommendations to assist these business owners in their search. The bill is set to take effect 90 days after its enactment.