This bill establishes a spending freeze for Fiscal Year 2026 by limiting the total appropriations from several state funds, including the State General Fund, Property Tax Relief Fund, Casino Control Fund, Casino Revenue Fund, and Gubernatorial Elections Fund, to the amounts appropriated in Fiscal Year 2025. This measure aims to control state spending and ensure fiscal responsibility during the specified year.

Additionally, the bill mandates that any excess revenue collected in Fiscal Year 2026, beyond the total collected in Fiscal Year 2025, must be deposited into the New Jersey Debt Defeasance and Prevention Fund in Fiscal Year 2027. However, this requirement does not apply to federal revenue or constitutionally dedicated state revenue, allowing for some flexibility in funding sources. The act is set to take effect immediately and will expire on July 1, 2027.