This bill allocates funding to the Union City School District for specific educational needs, including the construction of parking facilities at the Colin Powell Elementary School and support for high-cost special education services. It designates up to $10 million from the New Jersey Debt Defeasance and Prevention Fund, which was previously appropriated to the New Jersey Schools Development Authority, to be used for the engineering, design, and construction of parking structures for the school. The Department of Education is required to enter into a grant agreement with the Union City School District to outline the terms and disbursement schedule for these funds. Additionally, the State Treasurer is instructed to modify existing grant agreements with the New Jersey Schools Development Authority as necessary.

Furthermore, the bill appropriates $3.25 million from the General Fund specifically for high-cost special education services within the Union City School District, also subject to the approval of the Director of the Division of Budget and Accounting. This funding aims to address the unique educational needs of students in the district, ensuring that they receive the necessary support and resources. The act is set to take effect immediately upon passage.