The "Regional Rehabilitation and Reentry Center Authority Act" establishes a framework for the creation and operation of a regional rehabilitation and reentry center by a newly formed authority, which can be established by one or more county governing bodies through the adoption of ordinances or resolutions. The act outlines the process for negotiating inter-county agreements that define the rights and responsibilities of participating counties, which must be approved by the Local Finance Board. Key terms such as "Authority," "Bonds," and "Center" are defined, and a governance structure is established, including a management committee with representatives from each county.

The authority will have the power to issue bonds for financing the center's construction and operation, while ensuring that it does not incur debt on behalf of the state or local governments. The bill includes provisions for bondholder protection, allowing for the appointment of a trustee in case of default, and designates the authority's property as public property exempt from state taxes and special assessments. Additionally, the authority is required to conduct annual financial audits and submit bond resolutions to the Director of the Division of Local Government Services, promoting transparency and accountability in its operations.