This bill authorizes the Department of the Treasury to sell and convey a surplus property located at 200 Sanatorium Road, known as East Hall of the Hagedorn Psychiatric Hospital, in the Township of Lebanon, Hunterdon County. The property encompasses 57,462 square feet and is designated as Block 9, Lot 7 on the local tax map. It is to be sold to GShack Group, LLC for an appraised value of $570,000. The sale will be executed in accordance with terms and conditions approved by the State House Commission.

The bill emphasizes that the property is no longer needed by the State, thus qualifying it as surplus. The act is set to take effect immediately upon passage.