Budget & Taxes

This bill (A 794) allows distressed New Jersey municipalities (those with a revitalization index score of 50 or higher) to acquire vacant, abandoned, or tax-delinquent properties by either paying the owner the fair market value or using eminent domain. It replaces older, more cumbersome processes like tax foreclosure with simpler methods, while permitting municipalities to deduct unpaid taxes and liens from the payment amount. Properties are defined as "abandoned" if at least four specific conditions exist (e.g., overgrown vegetation, disconnected utilities, or boarded windows), but exclude properties under active renovation or seasonal use. The law directly affects distressed municipalities seeking to revitalize blighted properties and property owners of abandoned real estate.

New Jersey's Bill A 3496 requires state agencies to make a good faith effort to increase contracts (procured without advertisement) awarded to certified minority-owned and women-owned businesses by 30 percent within five years. This applies to agencies using delegated purchasing authority for contracts under specific dollar thresholds (e.g., $150,000-$250,000). The State Treasurer must develop guidelines for agencies and submit six-month progress reports to the Governor and Legislature, while agencies must report their actions to the Treasurer every 30 days. The bill directly affects state agencies managing procurement and certified minority/women-owned businesses seeking government contracts.