This bill authorizes the State Treasurer, on behalf of the New Jersey Motor Vehicle Commission (MVC), to sell a 0.69-acre parcel of land located at 101 Ridgedale Avenue in the Town of Morristown, Morris County, as surplus property. The property, which includes all improvements on the land, has been deemed surplus to the needs of the State and is to be sold for $850,000. The sale will be executed in accordance with terms and conditions set by the State House Commission. The proceeds from this sale will be deposited into a fund designated for the relief of State debt or to assist in funding capital improvement projects.

The MVC previously used the property as an inspection center for specialized vehicles, but the facilities were closed due to damage from a hurricane. This bill aims to facilitate the transfer of ownership of the property to the Town of Morristown, thereby allowing for potential redevelopment or other uses that may benefit the local community.