This bill mandates that the Business Action Center, part of the New Jersey Department of State, conduct a comprehensive study on the effects of vacant commercial real estate in the state. The study must be completed within one year of the bill's effective date and a written report submitted to both the Governor and the Legislature. The report is required to cover several key areas, including existing efforts by county and local governments to track vacant properties, the utilization of the "Abandoned Properties Rehabilitation Act" by municipalities, assessments of financial or technical assistance programs available for addressing vacant commercial real estate, a survey of business owners regarding their experiences with private real estate resources, and additional recommendations to assist business owners in locating vacant commercial spaces.

The bill is set to take effect 90 days after its enactment. It aims to provide valuable insights and recommendations that could enhance the support for small businesses in navigating the challenges posed by vacant commercial properties in New Jersey.