This bill aims to establish a funding mechanism to support public, educational, and governmental channels in New Jersey, which are essential for disseminating community affairs, educational content, and emergency information. It imposes a five percent assessment on the gross receipts of streaming entertainment service providers, defined as entities earning over $250,000 annually from video streaming services. The bill also creates the Streaming Entertainment Fund, which will be administered by the New Jersey Board of Public Utilities and will receive funds from the assessments, legislative appropriations, and investment returns.

The moneys collected in the Streaming Entertainment Fund will be exclusively used to support public broadcasting and the aforementioned channels, ensuring their continued operation and service to the community. The Board of Public Utilities is tasked with adopting necessary rules and regulations to implement the provisions of this act. The bill emphasizes the importance of these channels in providing non-commercial, local programming and aims to secure their financial stability through the newly established funding structure.