Establishes a New Jersey Higher Education Funding Formula Commission to examine and recommend funding formulas for higher education institutions.
The New Jersey Higher Education Funding Formula Commission is established to examine higher education funding formulas for institutions of higher education, including medical schools, law schools, and graduate schools, in other states. The commission will review performance-based funding formulas, identify best practices, and develop a report that includes a higher education funding formula for the State support of all institutions of higher education. The commission will expire 30 days after submitting its final report.
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