This bill prohibits local governments in New Jersey from naming any property under their control, such as roads, bridges, schools, or parks, after groups designated as foreign terrorist organizations by the federal government, or after lands controlled by such organizations, excluding recognized sovereign nations. The Division of Local Government Services, in collaboration with the Office of Homeland Security and Preparedness, is tasked with developing and annually updating a list of these designated organizations and lands, which will be published on the division's website.

Local governments are required to remove any existing displays or names associated with foreign terrorist organizations within 30 days of the bill's enactment and to rename any properties named after such organizations within 90 days. The bill also stipulates that if a local government fails to comply, the State Treasurer will deduct a portion of the State aid allocated to that local government for each day of non-compliance. Additionally, the bill mandates that the State reimburse local governments for costs incurred in complying with these requirements. The Division of Local Government Services will also establish necessary rules and regulations to implement the bill.