The bill establishes the "New Jersey Reparations Task Force," which is designed to study and propose reparations for African-Americans in the state. Comprising 11 members—four legislators and seven public members—the task force will be appointed by the Governor and legislative leadership. Its mandate includes examining the historical context of slavery in New Jersey, the ongoing impacts of systemic racial discrimination, and the state's role in these injustices. To gather community input, the task force will hold at least six public meetings in various cities, including Camden, Paterson, Newark, New Brunswick, Atlantic City, and Trenton.

The task force is responsible for compiling evidence related to slavery, recommending educational initiatives, and proposing remedies for injustices faced by African-Americans. It will ensure that its recommendations align with national and international standards for reparations. An interim report detailing progress is required within 12 months of the initial meeting, and a final report with recommendations must be submitted within 24 months, after which the task force will be dissolved. The Governor is tasked with convening the first meeting, which must occur no later than the first day of the third month following the bill's enactment.