This bill allocates a portion of the appropriations made to the New Jersey Schools Development Authority from the New Jersey Debt Defeasance and Prevention Fund, specifically designating up to $10 million for the engineering, design, and construction of parking facilities at the Colin Powell Elementary School in the Union City School District. The funds will be allocated to the Department of Education, which is required to enter into a grant agreement with the Union City School District to outline the terms and disbursement schedule. Additionally, the State Treasurer is instructed to modify any prior grant agreements with the New Jersey Schools Development Authority as necessary to accommodate these allocations.

Furthermore, the bill appropriates $3.25 million from the General Fund to the Department of Education to support High Cost Special Education Services in the Union City School District. This funding aims to address the special educational needs of the district, which has been identified as requiring supplemental programs and facilities improvements. The act is set to take effect immediately upon passage.