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 cities such as 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 the harm caused by slavery and its legacy. It is required to submit an interim report within 12 months and a final report within 24 months of its initial meeting, which will include recommendations for reparations and other forms of restitution. The task force will be dissolved upon the submission of its final report, and the Governor must convene the first meeting no later than the first day of the third month following the bill's enactment.