Increases amounts of aid paid to certain municipalities that host watershed lands; increases amount annually appropriated to "Highlands Protection Fund" from realty transfer fee revenues.

This bill increases financial aid to New Jersey municipalities within the Highlands Region that host watershed lands, ensuring they receive compensation similar to those already eligible for watershed moratorium offset aid. It also directs that at least 25% of these funds be used for school funding purposes. Additionally, the bill adjusts how money from the Global Warming Solutions Fund is allocated, specifying that 60% supports energy efficiency and renewable energy projects, 20% assists low- and moderate-income residential electricity programs, and 10% helps local governments reduce greenhouse gas emissions. The legislation requires the State Treasurer to include these funding amounts in annual budget requests and mandates the Legislature to appropriate the necessary funds.