This bill amends R.S.45:1-3 to allow certain professional boards in New Jersey to retain funds collected from licensing and registration fees. Specifically, it mandates that these boards shall retain the fees collected from individuals applying for initial licensure and for the renewal of licenses or registrations on an annual, biennial, or other recurring basis. The funds retained can be used to cover expenses related to enforcing compliance with the laws they oversee, as well as for the salaries of their secretaries and other operational costs.

Additionally, the bill stipulates that the boards must keep at least one hundred dollars in their treasuries for examination preparation and holding. It also requires that all remaining funds in the boards' treasuries as of June 30 each year, except for the specified amounts, shall be retained by the boards rather than paid to the state treasurer, thus allowing them greater financial autonomy. The boards are also required to maintain accurate accounts of their financial activities, which will be subject to audit by the state comptroller.