The document discusses the Generic Lazy class introduced in .NET Framework 4.0, which provides support for lazy initialization. It inherits from System.Lazy<T> and is defined in the System namespace in mscorlib.dll. The Lazy<T> class has properties and constructors for lazy initialization, deferring the initialization of an object until its value is accessed. An example demonstrates initializing an int array lazily, only creating it when the Value property is first accessed.