An Act authorizing local taxing authorities to provide for tax exemptions for improvements and redevelopment of certain underutilized property ; establishing the Economic Development and Mixed-Use Redevelopment Advisory Committee within the State Planning Board; and conferring powers and imposing duties on the Department of Community and Economic Development.

Added new definitions for 'Brownfield' (abandoned industrial/commercial property with environmental contamination) and 'Greyfield' (abandoned commercial property with utilities) to expand what properties qualify for redevelopment incentives.

Added definition for 'Underutilized Property' as a category that includes brownfields, greyfields, and shopping malls to clarify the expanded scope of eligible properties.

Changed the bill's title and scope from exclusively 'shopping malls' to 'certain underutilized property' to include brownfields and greyfields alongside shopping malls.

Added new requirements for developers to submit proof of project labor agreements and expanded application requirements to include more detailed information about the redevelopment project.

Modified eligibility criteria to apply to underutilized properties rather than just shopping malls, while maintaining requirements for zoning compliance and correction of municipal code violations.

Added new provisions requiring repayment of tax exemptions if serious violations occur within five years of redevelopment, with specific conditions about violation correction and permit denials.