NJ A4077

Imposes an 8% fee on the value of contracts between private prison operators and public entities, with revenues funding the "Detention and Deportation Defense Initiative Support Fund" to provide legal services through accredited higher education institutions.

Establishes a $15 per inmate per day fee for each person detained at a private correctional facility, collected monthly and credited to the "Private Prison Societal Rehabilitation Support Fund."

Adds a 3% corporate surtax on the allocated taxable net income of private prison operators, applied on top of existing Corporation Business Tax liability with no credits allowed against it.

Dedicates revenues from the inmate fee and surtax to community-based programs for food security, housing, recreation, job training, and youth mentorship, with 1% of surtax revenues each going to State, county, and municipal programs.

Named the "Knowledge, Accountability, and Rights in Incarceration Markets Act" (KARIM Act), the bill takes effect for taxable years beginning in January following enactment.