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Bill > S4295


NJ S4295

NJ S4295
Makes supplemental appropriation of $144.2 million to provide additional Outcomes-Based Allocation funding to four-year public institutions of higher education.


summary

Introduced
03/24/2025
In Committee
03/24/2025
Crossed Over
Passed
Dead

Introduced Session

2024-2025 Regular Session

Bill Summary

This bill makes a supplemental appropriation of approximately $144.2 million to provide additional Outcomes-Based Allocation funding to the State's public four-year institutions of higher education. The FY 2025 Appropriations Act appropriates a total of $220.5 million in Outcomes-Based Allocation funding to the State's 13 public four-year institutions of higher education. Pursuant to budget language in the FY 2025 Appropriations Act, an institution's allocation is based on the institution's share of Statewide overall totals on the following metrics: the total number of degrees awarded; the number of degrees awarded to individuals from underrepresented ethnic and racial minority groups; the number of students at the institution with adjusted gross income between $0 and $65,000; degrees awarded to students with adjusted gross income between $0 and $65,000; degrees awarded to transfer students; degrees awarded in the STEM and healthcare fields; and the number of doctoral degrees awarded. This bill would supplement the existing amount of funds distributed through the Outcomes-Based Allocation program in FY 2025. The amount of funds provided pursuant to the bill is calculated based on estimated future needs of the institutions and is disbursed in the same manner as is currently provided in the FY 2025 Appropriations Act.

AI Summary

This bill provides a supplemental appropriation of $144.2 million to the Outcomes-Based Allocation (OBA) funding for New Jersey's public four-year higher education institutions. The OBA is a funding method that allocates money to universities based on specific performance metrics, such as the total number of degrees awarded, degrees earned by underrepresented minority students, degrees earned by students from low-income backgrounds (those with adjusted gross income between $0 and $65,000), degrees in STEM and healthcare fields, and doctoral degrees. The bill specifically allocates additional funds to 13 different institutions, including Rutgers (with separate allocations for its New Brunswick, Camden, and Newark campuses), New Jersey Institute of Technology, Thomas Edison State University, Rowan University, New Jersey City University, Kean University, William Paterson University, Montclair State University (which also includes a specific allocation for Bloomfield College), The College of New Jersey, Ramapo College, and Stockton University. These supplemental funds are being added to the existing appropriations for fiscal year 2025, with each institution receiving a specific grant-in-aid amount ranging from $3.6 million to $32.6 million, all designated as Outcomes-Based Allocation funding. The bill takes effect immediately upon enactment.

Committee Categories

Education

Sponsors (1)

Last Action

Introduced in the Senate, Referred to Senate Higher Education Committee (on 03/24/2025)

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