This bill authorizes the New Jersey Department of the Treasury to sell and convey surplus real property known as the former Riverfront State Prison in Camden, which encompasses 16 acres of land. The New Jersey Economic Development Authority (NJEDA), in collaboration with the City of Camden and the Department of the Treasury, will determine the boundaries of two designated sites within this property: the NJEDA Site and the City Site. The NJEDA Site will be sold for either $5,000,000 or its appraised value, while the City Site will be sold to the City of Camden for one dollar, with the stipulation that it must be preserved for public use as a park or for recreational activities.

Additionally, the bill specifies that the sale of both sites will not require approval from the State House Commission or the Legislature. The City Site will be sold in its current condition, with no responsibility for repairs or renovations assumed by the State. The bill also repeals P.L.2013, c.22, and is set to take effect immediately upon approval.