This bill establishes a grant program administered by the New Jersey Economic Development Authority (EDA) to provide financial assistance to retail business establishments that incur increased business expenses due to public highway projects. The program aims to reimburse these businesses for costs incurred during a "relief period," which is defined as the time between the commencement and conclusion of a public highway project. The bill outlines the application process for businesses seeking grants, requiring documentation of regular business expenses prior to the relief period and the increased expenses incurred during it. Additionally, the bill appropriates $1 million from the General Fund to support the administration of this grant program.

Furthermore, the bill offers a 50 percent sales and use tax exemption for sellers operating retail business establishments within impacted municipalities during the relief period, contingent upon approval from the Director of the Division of Taxation. To facilitate this process, the Commissioner of Transportation is tasked with notifying both the EDA and the Director about the commencement and completion of public highway projects. This notification is crucial for determining eligibility for the grant program and tax exemption. Overall, the bill aims to mitigate the financial impact of public infrastructure projects on small businesses in affected areas.