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 technology and innovation. The Chief Innovation Officer will oversee daily operations, report directly to the Governor, and have the authority to appoint staff without adhering to civil service laws. The Authority is granted powers to adopt bylaws, provide centralized implementation services, and promote responsible technology use in public services, while also being able to enter contracts and accept funds from private entities.

Additionally, the bill allows for the transfer of unencumbered funds from previous appropriations to support the Authority's operations, ensuring it has the necessary resources. It also stipulates that all purchases, contracts, or agreements made by the Authority must be publicly advertised for bids, with certain exceptions. The Authority is empowered to consult with and provide funds to established nonprofit entities, including the National Center for Civic Innovation, Inc., to achieve its objectives.