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 completion of a public highway project. The bill outlines the application process for businesses seeking grants, requiring documentation of regular business expenses and the increased expenses directly resulting from the highway project. Additionally, the bill appropriates $1 million from the General Fund to support the program's administration.

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. The bill mandates that the Commissioner of Transportation notify both the EDA and the Director regarding the commencement and completion of public highway projects to facilitate the grant and tax exemption processes. Overall, the legislation aims to mitigate the financial impact of infrastructure projects on small businesses located in affected areas.