This bill authorizes the State Treasurer to grant a temporary deed of easement for 0.5175 acres of land located at the Sea Girt National Training Center in the Borough of Sea Girt, Monmouth County. The easement will be granted to Confluence Networks LLC for a term of 30 years, allowing the use of existing underground telecom infrastructure for the installation of a new submarine cable system. The one-time fee for this easement is set at $1,120,230, which is based on the appraised value of the property.

The execution of this temporary deed of easement will be conducted in accordance with terms and conditions approved by the State House Commission, which has already given its approval for the easement during a meeting on November 20, 2023. The bill is set to take effect immediately upon enactment.