House Bill No. 5420 mandates the Office of Higher Education to conduct a study on postsecondary education in the state, with a report due by January 1, 2027. This report will be submitted to the joint standing committee of the General Assembly that oversees higher education and employment advancement. The bill introduces new legal language indicating that this study is a new section of law, effective upon passage.

The fiscal impact of the bill is assessed to be none for both state and municipal levels, as it is expected that the Office of Higher Education has the necessary resources to complete the study without incurring additional costs. The bill received a favorable report from the Higher Education and Employment Advancement Committee, with a vote of 15 in favor and 3 against.