Concerns New Jersey Black Cultural and Heritage Initiative Foundation; requires annual appropriation.

This bill amends New Jersey's existing law to rename the "New Jersey Black Cultural and Heritage Initiative Foundation" to the "New Jersey Black Heritage Foundation." It reduces the foundation's board of trustees from 25 to 12 members, adds the Governor or designee as a board member, and increases public board members' terms from three to five years. Crucially, the bill mandates an annual $500,000 state appropriation for the foundation's operations starting in fiscal year 2023, requiring the executive director to submit an annual budget request to the Governor and Treasury. The foundation directly affects Black cultural organizations, arts groups, and tourism initiatives across New Jersey that receive its support for programming, education, and heritage preservation.