Senate Commerce Committee Statement — Senate Bill No. 3286, State of New Jersey (May 15, 2023)

Summary

The Senate Commerce Committee statement of May 15, 2023 reports favorably, with committee amendments, Senate Bill No. 3286. As amended, the bill has the NJ Business Action Center, in the Department of State, maintain a public database of vacant commercial space for purchase or lease by small businesses, updated on a monthly basis using information from commercial property owners, realtors, and municipalities. The committee amended the bill to include realtors as a source of information on availability. The statement says the bill is identical to Assembly Bill 4750 (1R).

Summary drafted by a model from the document's text below and checked by script against that text before publication. It is a navigation aid, not a reading of what the document proves. Where AI is used

Full text

     SENATE COMMERCE COMMITTEE

                    STATEMENT TO

                  SENATE, No. 3286
                  with committee amendments



 STATE OF NEW JERSEY
                      DATED: MAY 15, 2023

    The Senate Commerce Committee reports favorably and with
committee amendments Senate Bill No. 3286.
   As amended, this bill requires the NJ Business Action Center
(center), which is in the Department of State, to establish and
maintain a public database of vacant commercial space available for
purchase or lease by small businesses in this State. The database
will include information such as: the square footage of any vacant
commercial space; the capital equipment included in any vacant
commercial space; and the building systems installed in any vacant
commercial space, including, but not limited to, fire alarms, fire
suppression systems, security systems, and heating, ventilation, and
air conditioning systems. Under the bill, the center is required,
using information provided by commercial property owners,
realtors, and municipalities in the State, to update the database on a
monthly basis with new information concerning the availability of
vacant commercial space.
   The bill requires the center to make the database available
through its Internet web page and to publicize the availability of the
database as part of an awareness campaign targeted at business
associations, state and local chambers of commerce, and
municipalities in the State.
   Under the bill, the Secretary of State is to require every owner of
a commercial property in the State to notify, as necessary, the
center when a commercial property belonging to such an owner
becomes vacant, if no person or entity is presently scheduled to
lease or purchase the property, or when such a property becomes
occupied.
   For many industries, commercial space is often one of the most
costly barriers to entry. The expense is compounded by the time
dedicated to locating storefronts that are well-suited and appropriate
for the needs of a business. The creation of a public database of
vacant commercial space will expedite this process and help fill
vacancies quickly.
   As amended and reported by the committee, this bill is identical
to Assembly Bill 4750 (1R), as also reported by the committee.
                                2

COMMITTEE AMENDMENTS:
    The committee amended the bill to include realtors as a source of
information on the availability of vacant commercial space.


File and source

File

2023-05-15_SCM_S3286_S1.pdf

Size

10,101 bytes

SHA-256

32f377f991f00197a2f07dd207830471c8c56a54d2299272c73e01955c3c0e3c

Our copy

2023-05-15_SCM_S3286_S1.pdf

Original

No public link identified.