This bill proposes a supplemental appropriation of $45,000,000 from the Transportation Trust Fund Account Subaccount for Capital Reserves to the Palisades Interstate Park Commission. The funds are designated for the development and construction of disaster recovery projects, with the stipulation that the appropriation is subject to the approval of the Director of the Division of Budget and Accounting. The Palisades Interstate Park Commission is required to adhere to conditions outlined in a memorandum of understanding with the Commissioner of Environmental Protection and other relevant agency heads.

Additionally, the bill mandates that any federal reimbursements received for the costs of projects funded by this appropriation must be repaid to the Department of the Treasury. These repayments will then be deposited back into the Transportation Trust Fund Account Subaccount for Capital Reserves. The act is set to take effect immediately upon passage.