This bill amends existing laws related to the financial operations of the Department of Banking and Insurance and certain professional boards in New Jersey. It allows the Department to retain all fees, assessments, and charges collected, rather than requiring these funds to be paid into the State Treasury. Additionally, the bill enables professional boards to keep the funds they collect, including those from initial licensure and renewal fees, and to use these funds for their operational expenses, including prosecuting violations of relevant laws.

The bill also specifies that professional boards must retain all moneys remaining in their treasuries as of June 30 each year, except for certain specified uses. This change aims to provide these boards with greater financial autonomy and flexibility in managing their resources, ensuring they can adequately cover their expenses and fulfill their regulatory responsibilities.