This bill appropriates a total of $101,696,535 from constitutionally dedicated corporation business tax (CBT) revenues and various Green Acres funds to the New Jersey Department of Environmental Protection (DEP). The majority of these funds, amounting to $99,286,535, will be allocated to provide grants or loans to local government units for the acquisition and development of lands designated for recreation and conservation purposes. Specifically, $24,321,885 is earmarked for land acquisition projects, while $74,964,650 is designated for land development projects. Additionally, $2,410,000 is allocated for administrative costs associated with the DEP's management of these funds.

The bill also establishes definitions for densely or highly populated municipalities and counties, which will help determine eligibility for funding. It outlines specific allocations for various types of projects, including planning incentive acquisitions, standard acquisitions, urban aid acquisitions, and local park development projects. Furthermore, the bill allows for the reallocation of any remaining funds after the initial projects are funded, enabling the DEP to provide additional support for previously approved projects, subject to the approval of the Joint Budget Oversight Committee. Overall, the bill aims to enhance recreational and conservation opportunities across New Jersey through targeted funding and support for local government initiatives.