This bill mandates that any State department or agency currently located at 300 or 400 Riverview Plaza in Trenton must relocate to new suitable locations within the city as soon as reasonably possible. The agencies are required to pursue legal means to terminate their leases for these properties and work with landlords to quickly fill any resulting vacancies. The relocation process will only occur after an agreement to terminate the lease has been finalized.

Additionally, the bill tasks the New Jersey Economic Development Authority (EDA) with actively redeveloping the Delaware River waterfront in Trenton. The EDA is directed to attract private entities to occupy the office spaces vacated by the State agencies and is required to prioritize these entities for eligibility in EDA-administered business assistance programs. Furthermore, the EDA is authorized to modify existing programs to provide enhanced incentives for businesses that move into the vacated spaces and can seek assistance from other State departments to fulfill its responsibilities under this legislation.