N.J. Stat. § 33:1-24.3a
"Contiguous" means when municipalities in this State are adjoined by land and share a common boundary line, but does not include municipalities that are separated solely by a river, lake, bay, or other body of water.
"Inactive license" means a plenary retail consumption license that has been placed on inactive status and renewed as authorized by the provisions of section 1 of P.L. 1977, c. 246 (C.33:1-12.39) for two consecutive license terms.
"Receiving municipality" means a municipality that enters into an agreement to acquire an inactive plenary retail consumption license from a contiguous sending municipality as part of an economic redevelopment plan or in connection with a premises located within a redevelopment, improvement, or revitalization area pursuant to P.L. 2023, c. 290 (C.33:1-10b et al.).
"Redevelopment, improvement, or revitalization area" means an urban enterprise zone designated pursuant to P.L. 1983, c. 303 (C.52:27H-60 et seq.) or P.L. 2001, c. 347 (C.52:27H-66.2 et al.); a downtown business improvement zone designated pursuant to P.L. 1998, c. 115 (C.40:56-71.1 et seq.); a pedestrian mall or pedestrian mall improvement or special improvement district as defined in section 2 of P.L. 1972, c. 134 (C.40:56-66); a transit oriented development as defined by section 2 of P.L. 2011, c. 149 (C.34:1B-243); an area determined to be in need of redevelopment pursuant to sections 5 and 6 of P.L. 1992, c. 79 (C.40A:12A-5 and 40A:12A-6); or an area determined to be in need of rehabilitation pursuant to section 14 of P.L. 1992, c. 79 (C.40A:12A-14), or any improvement which is 100 percent new construction, which is an entirely new improvement not previously occupied or used for any purpose.
"Sending municipality" means a municipality from which an inactive license is issued pursuant to P.L. 2023, c. 290 (C.33:1-10b et al.) to the governing body of a contiguous receiving municipality as part of an economic redevelopment plan or in connection with a premises located within a redevelopment, improvement, or revitalization area.
The request for proposal shall establish a minimum bid amount, which shall be based on the average sale price of the three most recent plenary retail consumption license sales in the receiving municipality or an appraisal completed pursuant to this subsection at the receiving municipality's expense, whichever amount is greater.
The appraisal process shall include an examination of previous transactions in the receiving municipality or surrounding municipalities, as the case may be, and shall reflect what a willing buyer, under no pressure to buy, would pay a willing seller, under no pressure to sell, for a plenary retail consumption license in that municipality or municipalities, as the case may be.
After the receiving municipality accepts a successful bid, the sending municipality shall submit to the director notice of the intent to transfer a license at least 90 days prior to the transfer. The sending and receiving municipalities shall adopt by majority vote identical resolutions authorizing the transfer of the license. The identical resolutions shall establish the license transfer fee of $25,000 or more, which shall be paid by the license holder and deposited in the general fund of the sending municipality. Prior to adopting the resolution pursuant to this section, the governing body of both municipalities shall give special consideration as to whether sufficient attempts were made by the license holder to use or transfer the license for use in connection with a premises located in the sending municipality.
N.J.S. § 33:1-24.3a