This bill appropriates a total of $15,815,984 to the New Jersey Historic Trust for grants aimed at supporting various historic preservation projects and covering associated administrative costs. The funding is sourced from constitutionally dedicated corporation business tax (CBT) revenues, as established by the Preserve New Jersey Act. Specifically, the bill allocates $13,839,484 for capital preservation grants, historic site management grants, and emergency intervention funding, with $100,000 designated for emergencies threatening historic resources. Additionally, $1,976,500 is earmarked for administrative expenses related to the implementation of the Preserve New Jersey Act, and $10,815,984 is appropriated from the General Fund to support the provisions of this act.

The bill outlines that the New Jersey Historic Trust will utilize the funds to provide capital preservation grants for 33 projects totaling $12,126,944 and historic site management grants for 36 projects amounting to $1,612,540. All projects must be listed or eligible for listing in the New Jersey and National Register of Historic Places. Furthermore, any changes in project funding or sponsorship will require approval from the Joint Budget Oversight Committee, and any remaining funds after the initial projects are funded may be allocated to additional historic preservation projects, subject to the same approval process.