Establishes a New Jersey Higher Education Funding Formula Commission to develop a funding formula for higher education institutions.
The bill establishes a New Jersey Higher Education Funding Formula Commission. The commission will consist of 11 members, including the Secretary of Higher Education, the executive director of the Higher Education Student Assistance Authority, and five members appointed by the Governor. The commission's duties include examining funding formulas for higher education institutions in other states, reviewing performance-based funding formulas, and identifying best practices.
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