Prohibits state chartered banking institutions from investing in and providing financing for private prisons

This bill bans state-chartered banks from financing or investing in private prisons. It directly affects all state-chartered banking institutions by prohibiting them from providing loans, purchasing stocks, or funding any entity that operates a private correctional facility (a facility that would be illegal under existing state law if located in the state). The law applies to all new or modified contracts starting immediately upon enactment. This creates a clear policy change restricting financial support for private prison operations within the state's banking sector.