The proposed bill establishes the "Volunteer Fire Company Assistance Program" within the Division of Fire Safety in the Department of Community Affairs (DCA) to enhance the operations and sustainability of volunteer fire companies. It creates a special non-lapsing fund, known as the Volunteer Fire Company Assistance Program Fund, which will receive annual appropriations from the Legislature. The Director of the Division of Fire Safety is tasked with developing and administering a grant program to distribute funds to volunteer fire companies for purchasing emergency equipment and supporting their ongoing operations. To apply for these grants, volunteer fire companies must submit detailed applications outlining their intended use of the funds, including the specific emergency equipment to be purchased and how the grant will help sustain their operations.

Additionally, the bill mandates that participating volunteer fire companies submit a report within one year of receiving a grant, detailing their expenditures and the impact of the funding on their operations. The Division will compile these reports into a comparative profile, which will be made publicly accessible online. Furthermore, the Director is required to submit a report to the Governor and the Legislature within a year of posting the profile, summarizing the implementation of the grant program, including the number of applicants and the types of equipment most frequently requested. The bill appropriates $10 million from the General Fund to support these initiatives.