This bill establishes a prohibition on private entities owning, operating, or managing correctional facilities or jails in New Jersey, effective immediately upon enactment. The only exception to this rule is if the private entity has a pre-existing contract with a public body that was established before the bill's effective date. Additionally, the bill explicitly prevents any public body from entering into, renewing, or extending contracts with private entities for the custody of individuals in correctional facilities or jails after the bill takes effect.

The bill defines key terms, including "correctional facility or jail," which refers to any secure location used to house individuals in custody, and "private entity," which encompasses various forms of private organizations and individuals. The intent of the legislation is to eliminate private management of correctional facilities, thereby ensuring that such institutions are operated solely by public bodies.