This bill authorizes the State Treasurer, on behalf of the Department of Military and Veterans Affairs, to sell the Lodi Armory, a 4.01-acre property located in the Borough of Lodi, Bergen County, to the County of Bergen. The property has been declared surplus to the needs of the State and is set to be sold for $4,100,000, with the terms and conditions of the sale to be determined by the State House Commission.

As a condition of the sale, the County of Bergen must lease back approximately 6,000 square feet and up to 45 parking spaces from the Motor Vehicle Storage Building located on the property to the State, through the director of the Division of Property Management and Construction in the Department of the Treasury. This arrangement ensures that the State retains access to a portion of the property while transferring ownership to the County. The bill is set to take effect immediately upon passage.