LEGISLATIVE FISCAL ESTIMATE
SENATE, No. 5018
STATE OF NEW JERSEY
221st LEGISLATURE
DATED: JANUARY 9, 2026
SUMMARY
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Synopsis: |
Authorizes State Treasurer to sell as surplus certain real property and improvements in Township of Clinton in Hunterdon County. |
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Type of Impact: |
One-time State revenue increase; one-time local expenditure increase for Hunterdon County. |
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Agencies Affected: |
Department of the Treasury; Hunterdon County. |
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Office of Legislative Services Estimate |
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Fiscal Impact |
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One-Time State Revenue Increase |
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$3,400,001 |
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One-Time Expenditure Increase for Hunterdon County |
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$1 |
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· The Office of Legislative Services (OLS) concludes that this bill will result in a one-time revenue increase to the State-Owned Real Property Fund of $3,400,001 for the sale of the surplus property to Waste Management of New Jersey, Inc. and Hunterdon County.
· Hunterdon County will experience a concurrent one-time expenditure increase of one dollar.
BILL DESCRIPTION
This bill authorizes the Department of the Treasury to sell and convey as surplus certain State-owned land and improvements within the Mountainview Youth Correctional Facility in the Township of Clinton, Hunterdon County. A portion of the land referred to as Site A will be sold and conveyed to Waste Management of New Jersey, Inc. and a portion of the land referred to as Site B will be sold and conveyed to the County of Hunterdon.
Site A will be sold and conveyed to Waste Management of New Jersey, Inc by the State Treasurer for $3,400,000. Site B will be sold and conveyed to the County of Hunterdon by the State Treasurer for one dollar. Both sales will occur on the condition that the new property owner will be solely responsible for compliance with all applicable environmental laws and regulations, including any investigation, remediation, or permitting obligations that may arise as a result of ownership or operation of the site.
The bill requires the Department of the Treasury, in consultation with the County of Hunterdon and Waste Management of New Jersey, Inc., to determine the boundaries of Site A and Site B. The conveyance of real property by the State Treasurer will not require the approval of the State House Commission or any further approval of the Legislature.
FISCAL ANALYSIS
EXECUTIVE BRANCH
None received.
OFFICE OF LEGISLATIVE SERVICES
The OLS concludes that this bill will result in a one-time revenue increase to the State’s State-Owned Real Property Fund of $3,400,001 for the sale of the surplus property to Waste Management of New Jersey, Inc. and Hunterdon County. Hunterdon County will experience a concurrent one-time expenditure increase of one dollar.
Under the bill, the State Treasurer is authorized to sell and convey as surplus certain State-owned land and improvements within the Mountainview Youth Correctional Facility in the Township of Clinton, Hunterdon County. Site A as defined in the bill is authorized to be sold to Waste Management of New Jersey, Inc. for $3,400,000. Site B as defined in the bill is authorized to be sold to Hunterdon County for one dollar.
Under current law, any revenue generated from State property sales are to be deposited into the State-Owned Real Property Fund unless otherwise stated in the bill.
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Section: |
State Government |
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Analyst: |
Associate Fiscal Analyst |
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Approved: |
Thomas Koenig Legislative Budget and Finance Officer |
This legislative fiscal estimate has been produced by the Office of Legislative Services due to the failure of the Executive Branch to respond to our request for a fiscal note.
This fiscal estimate has been prepared pursuant to P.L.1980, c.67 (C.52:13B-6 et seq.).