Provides for regional economic and land use impact report and establishes review processes related to development of certain large warehouses; and requires related real property reassessments.

This New Jersey bill requires municipalities to conduct regional impact assessments before approving "large warehouse" developments. Host municipalities must prepare a detailed report assessing how the warehouse will affect retail, jobs, traffic, public services, and local master plans, which must be reviewed by county or state planning boards. Adjoining municipalities can express concerns within 20 days, and the host municipality must update its master plan if it hasn't been updated in the past year. Additionally, municipalities must reassess all property values within 24 months after approval if they haven't done so in the past 60 months.