Establishes additional municipal review processes and procedures related to development of certain large warehouses; requires certain real property revaluations and reassessments.

This bill requires municipalities to complete a special review of their master plans and development regulations before approving applications for "large warehouses" (defined as facilities storing goods before sale or redistribution, per upcoming state guidelines). It mandates that planning boards deliver a special report to the municipal governing body within 90 days of an application, delaying the standard 45-day application review period until 91 days after the report is received. Additionally, if a municipality hasn’t completed a full property revaluation in the prior 60 months, it must conduct one within 24 months after a large warehouse receives a certificate of occupancy. The bill directly affects developers seeking large warehouse permits and municipalities managing land-use planning and property assessments.