Requires Department of Public Safety Standards and Training to establish by rule standards and procedures for licensing of private security entities. Defines "private security entity." Requires that rules adopted by department require private security entity to provide private security providers with professional training. Increases limitations on biennial expenditures by department to implement provisions of Act. Conditions licensure upon applicant's successful passing of qualification examination and upon applicant's character, competence and reliability. Establishes requirements for licensed private security entities and for private security entities employing armed private security professionals. Prohibits private security entity from discharging or discriminating against private security provider employed or contracted by entity for making claim or participating in proceeding against entity. Creates personal, joint and several liability for unpaid wages for person who retains unlicensed private security entity. Creates personal liability for all penalty wages for wages due. Permits department to bring action to enjoin person from using or acting as private security entity and to seek damages. Prohibits entity from providing private security services without license, person from providing services as private security entity without first providing license information and person from retaining private security entity without first verifying entity's license. Makes act of providing private security services as private security entity without license Class A violation. Makes act of retaining services of private security entity without first verifying entity's license information Class A violation. Permits Board on Public Safety Standards and Training to impose license sanctions against private security entity that has multiple violations. Becomes operative January 1, 2024. Declares emergency, effective on passage.