Appropriates $247,128,000 from "New Jersey Debt Defeasance and Prevention Fund"; establishes process for authorizing future appropriations for debt defeasance and capital projects.

This bill appropriates $247.1 million from New Jersey's Debt Defeasance and Prevention Fund: $222 million for the Department of Corrections to build a new women's correctional facility in Chesterfield Township (replacing Edna Mahan Correctional Facility for Women), and $25.1 million for other state capital projects recommended by the Capital Budgeting Commission. It also establishes a process for future fund use to pay off state debt without new borrowing, requiring the Joint Budget Oversight Committee to review and approve capital projects quarterly. If the committee misses a deadline, projects submitted over 45 days prior are automatically approved. The bill directly affects state agencies managing correctional facilities and capital construction projects.