Math notation question for an algorithm

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I'm reviewing an algorithm and it all makes sense except for this line:

$$ \boldsymbol{b} \leftarrow (||\boldsymbol{b}|| \_{2} - \beta)_{+} \widehat{\boldsymbol{b}} $$

$\boldsymbol b$ is an $N\times 1$ vector and $\beta$ is a constant. I'm not sure what the subscript plus denotes.