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 eligibility criteria for each type of grant. Additionally, $1,920,000 is designated for administrative costs related to the implementation of the Preserve New Jersey Act.

The bill outlines that the New Jersey Historic Trust will utilize 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 specifies that $100,000 will be allocated for the purchase of a historic preservation easement. Furthermore, any changes in project funding or sponsorship will require approval from the Joint Budget Oversight Committee. The bill ensures that any remaining funds after the initial projects are funded can be reallocated for additional historic preservation projects, contingent upon prior approval from the same committee.