Revises formula for State aid to municipalities and counties for public highway projects.

This bill revises how New Jersey allocates state funds for public highway projects to municipalities and counties. It establishes a new formula based on factors like county population, municipal road mileage, evacuation routes, and flood plain locations to determine funding distribution. The bill specifies that 37.5% of annual highway funds must go to municipalities under this formula, with additional fixed amounts set aside for specific programs (like the Local Aid Infrastructure Fund, Local Freight Impact Fund, and Local Bridges Fund). The formula also requires prioritizing projects based on traffic volume, safety, and whether they address hazardous conditions for school routes or pedestrian safety. This directly affects all New Jersey municipalities and counties managing public road infrastructure.