The bill establishes the New Jersey Innovation Authority as a public body within the Department of the Treasury, aimed at enhancing government performance through innovative technology solutions. The Authority will consist of 13 members, including ex officio members from various state departments and nine public members appointed by the Governor, who possess expertise in fields such as data science and digital technology. The Chief Innovation Officer, who will oversee daily operations and report directly to the Governor, is granted the authority to appoint staff without regard to civil service laws. The Authority will also be responsible for advising the Executive Branch on technology innovation and modernizing government services.

Additionally, the bill allows for the transfer of unencumbered funds from previous appropriations, specifically for Permit Modernization or the National Center for Civic Innovation, Inc., to support the Authority's operations, contingent upon approval from the Chief Innovation Officer and the Director of the Division of Budget and Accounting. It outlines procurement processes, requiring public advertisement for bids on purchases, contracts, or agreements made by the Authority, while allowing for exceptions under certain circumstances. The Authority is also empowered to collaborate with nonprofit entities to achieve its objectives, further enhancing its capacity to implement technology-driven solutions in government.