CHAPTER 4 POWERS OF THE GOVERNOR AND COUNCIL IN CERTAIN CASES
Acquisition and Disposal of Real Estate
Section 4:39-g
4:39-g Fair Market Value of State Agency Leases. –
I. Any renewal of a lease for land, buildings, or space between a political subdivision and the state shall be renewed at a fair market rate, unless otherwise agreed upon by the lessor. Additional expenses, including but not limited to utilities and custodial services, shall be negotiated separately.
II. This section shall not apply to any state agency whose lease of land, buildings, or space was procured through the use of a competitive selection or bidding process.