This bill appropriates a total of $49.5 million from constitutionally dedicated Corporation Business Tax (CBT) revenues to the New Jersey Department of Environmental Protection (DEP) for the acquisition of lands designated for recreation and conservation purposes. It specifically allocates $23.725 million from the Preserve New Jersey Green Acres Fund for various projects, including Blue Acres initiatives, which focus on properties that mitigate flood risks. Additionally, the bill designates $2.05 million for administrative costs associated with managing these provisions, ensuring that funds are effectively utilized for enhancing public access to natural resources and preserving the state's environmental heritage.

The bill streamlines the funding allocation process by stipulating that the expenditure of these funds for the listed projects will not require the approval of the Joint Budget Oversight Committee. It also allows for the reappropriation of unexpended balances from previous appropriations for state projects related to recreation and conservation, enabling the DEP to provide additional funding to previously approved projects, subject to the Joint Budget Oversight Committee's approval. This approach aims to maximize the use of available resources for conservation and recreation efforts throughout New Jersey, with a minimum of 10 percent of the funds allocated for land acquisition specifically directed towards Blue Acres projects.