This bill appropriates a total of $18,518,738 to the New Jersey Historic Trust for grants aimed at supporting various historic preservation projects and covering associated administrative expenses. The funding is sourced from constitutionally dedicated corporation business tax (CBT) revenues, as established by the Preserve New Jersey Act. Specifically, the bill allocates $16,598,738 for capital preservation grants, historic site management grants, and easement purchases, with detailed provisions for the types of projects eligible for funding. Additionally, it designates $1,920,000 for administrative costs related to the implementation of the Preserve New Jersey Act.

The bill outlines that the New Jersey Historic Trust will use the appropriated funds to support 43 capital preservation projects totaling $15,031,000 and 34 historic site management projects amounting to $1,467,738. It also includes a provision for a $100,000 easement purchase. Importantly, any changes in project funding or sponsorship will require approval from the Joint Budget Oversight Committee. Furthermore, if there are remaining funds after the initial projects are funded, the Trust may allocate those to additional historic preservation projects that have previously received funding approval.