The bill mandates the Commissioner of Education to establish a Teacher Retention Program aimed at incentivizing teachers to remain in public schools in New Jersey. It stipulates that the commissioner will provide an annual retention grant to each full-time public school teacher upon the completion of the school year.

To fund these grants, the bill specifies that the State Treasurer is to redirect funds that were previously allocated for services and aid to undocumented persons, which includes areas such as health care and education, to the Department of Education for the implementation of the Teacher Retention Program. This redirection of funds is a significant aspect of the bill, as it seeks to support teacher retention through financial incentives. The act is set to take effect immediately upon passage.