The s in the word is pronounced like as sh, just as in the word sure. The U.S. Congress has censured its members a number of times for unbecoming conduct. Usually there is no specific punishment, just an official notice. In the U.S. Congress, that may mean the end of a political career, but not always. About ten years ago two congressmen were censured for sexual activity with underage house pages.
Censure can be either a noun or a verb, though the verb is more common.
The Synod voted to censure the priest for his unauthorized activities. This is normally a verb. The activity or condition of censoring is called censorship, the suffix is like the -ship suffix in friendship. There is no such word. One would think that a professional lawmaker would understand that.