The bill establishes the New Jersey Military Family Relief Fund within the Department of the Treasury, allowing taxpayers to voluntarily contribute to the fund through their State gross income tax returns. The fund is designed to provide grants of up to $2,500 to assist members of the United States Armed Forces, their families, members of the New Jersey National Guard, veterans, and surviving spouses with essential expenses such as food, housing, and medical services. The State Treasurer will manage the fund, and the Legislature is tasked with annually appropriating all funds deposited into it to the Department of Military and Veterans Affairs.

The Adjutant General of the Department of Military and Veterans Affairs will oversee the application process and determine eligibility for grants. To qualify, applicants must be New Jersey residents who have lived in the state for at least 12 consecutive months prior to applying and must demonstrate financial hardship. Additionally, applicants are limited to receiving one grant from the fund within a 12-month period. The bill also defines a veteran as someone who has received an honorable or general discharge under honorable conditions from military service.