This bill appropriates $3 million annually to support Freedom Schools in New Jersey, utilizing funds collected from the Social Equity Excise Fee associated with cannabis sales. Specifically, it directs that these funds be allocated to the Department of State, contingent upon the approval of the Director of the Division of Budget and Accounting. This appropriation is established notwithstanding any conflicting provisions in existing laws or regulations.

Freedom Schools aim to provide educational and character-building support to K-12 students and their families through intensive summer programs and ongoing academic assistance during the school year. The funding for these schools will come from the revenues generated by the Social Equity Excise Fee, which is part of the broader Cannabis Regulatory, Enforcement Assistance, and Marketplace Modernization Fund. The bill is set to take effect immediately upon enactment.