This bill mandates the Rutgers Economic Advisory Service, part of the Bloustein School of Planning and Public Policy at Rutgers University, to conduct a comprehensive study on the economic impact of military installations in New Jersey. The study aims to assess the overall effect of these installations on the state's gross domestic product, providing data-driven insights into the economic implications of proposed operating and capital budgets. It will evaluate the benefits of potential construction and infrastructure projects, military and civilian employment, and tax generation at both state and local levels. The findings will support strategic decision-making for resource allocation and long-term planning, while also identifying potential weaknesses and threats.

To facilitate this study, the bill appropriates $155,000 from the General Fund to Rutgers University. The Rutgers Economic Advisory Service will have the authority to enlist assistance from state, county, or municipal employees and may employ staff or contract with consultants as necessary to fulfill its duties. A report detailing the study's findings is required to be submitted to the Governor and the Legislature within one year of the bill's enactment.