This bill amends R.S.40:5-2 to authorize counties and municipalities in New Jersey to make voluntary contributions of up to $70,000 annually to nonprofit veterans organizations that provide support services to veterans. These contributions are intended to address various issues faced by veterans, including housing assistance, food security, mental health, and career transitions. The bill also maintains the existing provision that allows local governments to contribute up to $125,000 annually to first aid and emergency or volunteer ambulance associations.

Additionally, the bill specifies that a "nonprofit veterans organization" is defined as any organization that supports veterans and qualifies as a section 501(c)(19) tax-exempt organization under the Internal Revenue Code. The legislation aims to enhance the support available to veterans by enabling local governments to allocate funds specifically for their needs, while also ensuring that contributions to emergency service associations are subject to auditing when they exceed certain thresholds. The act is set to take effect immediately upon passage.