This bill amends New Jersey's legislation regarding the establishment and operation of regional rehabilitation and reentry centers by replacing the term "management committee" with "board of authority commissioners." This change reflects a new governance structure and outlines the board's responsibilities, which include establishing inter-county agreements, managing rehabilitation center operations, and overseeing financial matters such as bond issuance and budget procedures. The bill also allows two or more county governing bodies to create a regional authority through parallel ordinances or resolutions and requires that proposed inter-county agreements be submitted to the Local Finance Board for review, with provisions for automatic approval if not acted upon within a specified timeframe.

Additionally, the bill mandates annual audits of the authority's accounts and clarifies that the authority's bonds will not be considered a debt or liability of the state or local governments. It streamlines the application process for the Local Finance Board and permits registered municipal accountants to conduct audits, thereby enhancing financial oversight. The act is set to take effect immediately upon passage, formalizing the collaborative effort required for the establishment of the regional authority.