Requires Division of Purchase and Property to issue annual report on State-owned underutilized real property with potential for other uses.

This bill (S 4125) requires New Jersey's Division of Purchase and Property to create an annual report on state-owned land not being fully used (underutilized property). The division must inventory all such land owned by the state or its agencies, analyze its potential for redevelopment, and categorize parcels for specific uses like affordable housing, homelessness services, or health services for low-to-moderate income residents. The report must be submitted to the Governor and Legislature within 13 months of the bill's effective date, then updated annually and posted online. This affects all state entities owning property, focusing on identifying opportunities for new community uses.