This bill establishes the Artificial Intelligence Initiative Funding Task Force within the Department of the Treasury, consisting of 11 members, including key state officials and six public members appointed by the Governor and legislative leaders. The task force is tasked with researching and reporting on potential sources of public and private funding for artificial intelligence initiatives in New Jersey. It is required to provide a comprehensive report that includes descriptions of current funding sources, recommendations for tax incentives to support affected business sectors, strategies for leveraging public-private partnerships, collaborations with higher education institutions, and alignment of funding with workforce needs and economic growth goals.

The task force must issue its final report within 12 months of its formation, which will be submitted to the Governor and the Legislature, and made publicly available on the Department of the Treasury's website. The task force will dissolve 30 days after the report is issued. This initiative aims to enhance the state's capacity to support and develop artificial intelligence technologies and their applications in various sectors.