This bill authorizes the State Treasurer to sell and convey surplus real property, specifically the former Riverfront State Prison located in Camden, New Jersey, which encompasses 16 acres of land and improvements. The property will be divided into two sites: the NJEDA Site, which will be sold to the New Jersey Economic Development Authority (NJEDA) for either $5,000,000 or its appraised value, and the City Site, which will be sold to the City of Camden for one dollar. The City Site must be preserved for public use as a park or for recreational activities. The bill also stipulates that the sale and conveyance will occur without the need for approval from the State House Commission or the Legislature.

Additionally, the bill repeals a previous law (P.L.2013, c.22) that had established a different process for the sale of the Riverfront State Prison property, which had proven ineffective. The NJEDA, in consultation with the City of Camden and the Department of the Treasury, will determine the boundaries of the NJEDA Site and the City Site before the sale. Following the conveyance, the NJEDA will have the authority to sell the NJEDA Site and the Southwest Site under terms it deems reasonable, potentially including redevelopment conditions.