This bill amends current law 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 for initial licensure and for annual, biennial, or other recurring renewals. The funds are to be used for defraying expenses related to the boards' duties, including the prosecution of violations of the laws they enforce and the payment of salaries for their secretaries and other expenses.

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 be retained by the boards, rather than being paid to the state treasurer, thus allowing them to maintain financial autonomy for their operational needs. The boards are required to maintain accurate accounts of their receipts and expenditures, which will be subject to audit by the state comptroller.