This bill mandates that the Business Action Center, part of the Department of State, conduct a comprehensive study on the impact of vacant commercial real estate in New Jersey. The study is to be completed within one year of the bill's effective date and will culminate in a written report submitted to both the Governor and the Legislature. The report must cover several key areas, including existing efforts by county and local governments to track vacant commercial 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 experiences with private real estate resources for identifying vacant properties, as well as any recommendations that could assist them in their search. The bill is set to take effect 90 days after its enactment.