Establishes New Jersey Regulatory Modernization Commission.

This bill establishes the New Jersey Regulatory Modernization Commission to review state regulations and identify unnecessary or duplicative rules that burden businesses and residents. The 11-member commission - including public appointees with business, nonprofit, and regulatory expertise, plus state agency leaders - will solicit public input, analyze regulatory impacts, and publish annual reports with recommendations for reform. It requires state agencies to respond to commission proposals within 90 days and mandates a public "Red Tape Reduction Portal" for submitting concerns. The commission has advisory authority only (it cannot change regulations) and will operate with a $250,000 annual budget to support its review process. This directly affects small businesses, nonprofits, and residents navigating New Jersey's regulatory environment.