This bill authorizes the New Jersey State Treasurer to sell and convey the former Riverfront State Prison property, a 16-acre site in Camden, as surplus real property. The property will be divided into two sections: 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 will occur without the need for approval from the State House Commission or the Legislature.

Additionally, the bill repeals P.L.2013, c.22, which previously authorized the sale of the property under different conditions. 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. After the sale, the NJEDA will have the authority to sell the NJEDA Site and the Southwest Site, which is also part of the former prison property, under terms it deems reasonable.