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 of equal amounts to all full-time public school teachers upon the completion of the school year.

To fund this program, the bill allows the State Treasurer to redirect funds that were previously appropriated for services and aid to undocumented persons, which includes areas such as health care and education, to the Department of Education specifically for the Teacher Retention Program. This redirection of funds is intended to support the financial incentives for teachers as outlined in the bill. The act is set to take effect immediately upon passage.