Credits $2.35 billion to "New Jersey Debt Defeasance and Prevention Fund"; appropriates $4.32 billion to Department of Treasury to provide funds to municipalities and counties for debt retirement and avoidance.
Requires any increase in local government costs for employee health care and prescription benefits coverage be offset by equivalent increase in municipal energy tax receipts property tax relief aid.
Permits teacher, and professional staff member who provides special services, who retired from TPAF to return to employment for up to two years without reenrollment in TPAF if employment commences during the 2023-2024 school year.