Bill > A345

Introduced Session

This bill establishes a New Jersey Higher Education Funding Formula Commission. Under the bill, the commission will consist of 11 members including: the Secretary of Higher Education, or a designee, who will serve ex-officio; the executive director of the Higher Education Student Assistance Authority, or a designee, who will serve ex-officio; five members to be appointed by the Governor including a representative of the State colleges and universities, a representative of the public research universities, a representative of the county colleges, a representative of the independent colleges and universities, and one public member; one member to be appointed by the Senate President; one member to be appointed by the Minority Leader of the Senate; one member to be appointed by the Speaker of the General Assembly; and one member to be appointed by the Minority Leader of the General Assembly. The duties of the commission will be to: · examine higher education funding formulas for institutions of higher education, including medical schools, law schools, and graduate schools in other states, review performance-based funding formulas in other states, and identify best practices;· solicit and review detailed information from all of the State's institutions of higher education, including medical schools, law schools, and graduate schools, on their funding needs, programs and operations, and outputs; and · develop a report that includes a higher education funding formula for the State support of all institutions of higher education, including medical schools, law schools, and graduate schools. The report may include such recommendations for legislative or regulatory action as the commission deems appropriate. The bill directs the commission to issue a final report of its findings and recommendations, including any recommended legislation, to the Governor, the Senate Higher Education Committee, and the Assembly Higher Education Committee no later than six months after its organizational meeting. The commission will expire 30 days after the submission of the final report.

AI Summary

Committee Categories

Claire Swift (R)*, 

Introduced, Referred to Assembly Higher Education Committee (on 01/09/2024)

Official Document