This bill appropriates a total of $107,999,000 from constitutionally dedicated corporation business tax (CBT) revenues and various Green Acres funds to the New Jersey Department of Environmental Protection (DEP). The funds are designated for local government projects related to open space acquisition, park development, and planning initiatives, with $102,679,000 allocated for grants or loans to assist local government units in acquiring or developing lands for recreation and conservation purposes. Additionally, $3 million is earmarked for a new Planning Grant program aimed at helping local governments prepare plans for recreation and conservation initiatives, while $2,320,000 is allocated for administrative costs associated with the DEP's management of these funds.

The bill outlines specific funding allocations for various types of projects, including $19,959,000 for planning incentive open space acquisition projects, $29,145,000 for local park development projects in urban aid municipalities, and $28,271,000 for completely inclusive playground projects under Jakes Law. It also establishes definitions for densely or highly populated municipalities and counties to determine eligibility for funding. Furthermore, the bill allows for the reallocation of any remaining funds after the initial projects are funded, enabling the DEP to provide additional support for previously approved local government projects, contingent upon the approval of the Joint Budget Oversight Committee.