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Assembly Commerce and Economic Development Committee Statement to Assembly, No. 3955 (February 12, 2026)

Summary

Assembly Commerce and Economic Development Committee Statement to Assembly, No. 3955, with committee amendments, State of New Jersey, dated February 12, 2026. The committee reports favorably and with committee amendments Assembly Bill No. 3955. As amended and reported, the bill requires the Business Action Center in the Department of State to conduct a study on the impact of vacant commercial real estate and prepare a report within one year of the effective date, to be submitted to the Governor and to the Legislature. The committee amendments require the report to include a survey of business owners and prospective business owners about the methods by which they identify vacant properties.

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“Assembly Commerce and Economic Development Committee Statement to Assembly, No. 3955 (February 12, 2026).” Archived at Pandemic Darlings, https://pandemicdarlings.com/source-documents/2026-02-12-ace-a3955-s1-ea3110d693/, SHA-256 2cff03bfee3415d2e05b7ee3e04817f48271ceb5e86374c485effc2f0334d94d.

Full text

ASSEMBLY COMMERCE AND ECONOMIC DEVELOPMENT
                COMMITTEE

                           STATEMENT TO

                      ASSEMBLY, No. 3955
                          with committee amendments



       STATE OF NEW JERSEY
                         DATED: FEBRUARY 12, 2026

          The Assembly Commerce and Economic Development Committee
      reports favorably and with committee amendments Assembly Bill No.
      3955.
          As amended and reported, this bill requires the Business Action
      Center in the Department of State to conduct a study on the impact of
      vacant commercial real estate in the State and prepare a report within
      one year of the effective date of the bill to be submitted to the
      Governor and to the Legislature. The report is required to include, but
      not be limited to:
          (1) information concerning existing county and local government
      efforts to track vacant commercial real estate within their jurisdictions;
          (2) the progress and efforts of municipal governments in utilizing
      the "Abandoned Properties Rehabilitation Act;"
          (3) an assessment of any existing county and local government
      programs that provide financial or technical assistance to address
      vacant commercial real estate within their jurisdictions;
          (4) a survey of business owners and prospective business owners
      concerning the methods by which business owners and prospective
      business owners identify vacant properties; and
          (5) any further recommendations that may help guide business
      owners and prospective business owners in their search for vacant
      commercial real estate.
          This bill was prefiled for introduction in the 2026-2027 session
      pending technical review. As reported, the bill includes the changes
      required by technical review, which has been performed.

      COMMITTEE AMENDMENTS:
          The committee amendments to the bill require that the report
      prepared pursuant to the bill include a survey of business owners and
      prospective business owners concerning the methods by which they
      identify vacant properties, rather than their satisfaction with using
      private real estate resources to identify vacant commercial real estate.

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