This bill mandates the Director of the Division of Housing and Community Resources in the Department of Community Affairs to create a competitive matching grant program aimed at encouraging municipalities to develop recreational sports and STEM (science, technology, engineering, and mathematics) programs for children. The bill allocates $10 million from the General Fund to support this initiative. Municipalities wishing to participate must submit an application detailing their proposed programs, the amount of funding requested, and how they plan to utilize the grant. The director will select municipalities from various regions of the state, ensuring a diverse representation from urban, suburban, and rural areas.

Additionally, the bill stipulates that no participation fees can be charged for children engaging in these programs, although municipalities may impose fees for premium services. Each participating municipality is required to report back to the director within a year of receiving the grant, detailing expenditures, the status of the programs, and their impact on children's participation. The director will compile these reports into a comparative profile for public access and will also provide a comprehensive report to the Governor and the Legislature regarding the program's implementation and best practices.