This bill establishes new requirements for the preparation and final passage of the annual appropriations act in New Jersey, emphasizing transparency and public involvement. It stipulates that no bill for the annual appropriations act can receive a third reading and final passage unless it is introduced by June 1 of the preceding fiscal year, made available to the public for at least 14 days prior to the vote, and accompanied by an explanation of significant changes compared to the Governor's budget recommendations. Additionally, the bill allows for these requirements to be waived by a three-fourths vote of the Legislature.

Furthermore, the bill mandates the inclusion of multi-year revenue and expenditure projections in the Governor's budget message for informational purposes. Specifically, it requires projections for the two fiscal years following the upcoming fiscal year, both for anticipated revenues and appropriations. To support this, each state department and agency must submit their projected requests for appropriations to the Director of the Division of Budget and Accounting, who will then certify and transmit these requests to the Governor. This change aims to enhance the financial planning process and provide a clearer picture of the state's fiscal outlook beyond the immediate budget year.