The bill amends Chapter 15A of the General Laws by adding Section 39A, which requires all public institutions of higher education in Massachusetts to create and adopt written policies for accepting various forms of course credit, such as Advanced Placement exams, early college courses, and dual enrollment programs. These policies must detail the conditions for granting credit, specify which requirements the credits fulfill, and outline the procedures for transferring credits to other institutions. Additionally, the bill mandates that these policies be publicly accessible on the institutions' websites and that the Department of Higher Education conducts a review of these policies every three years.

Moreover, the bill introduces Section 40 to Chapter 69, establishing an early college initiative aimed at providing high school students, especially those underrepresented in higher education, with opportunities to earn transferable college credits. It creates an Early College Joint Committee (ECJC) to oversee the initiative and an Office of Early College to manage designated early college programs. Public high schools are required to offer early college or similar programs before students complete their 12th grade, with provisions for waivers. The bill also authorizes the commissioner of elementary and secondary education to use funds from the Twenty-First Century Education Trust Fund for these programs, ensuring alignment with the trust's objectives. Additionally, it mandates a memorandum of understanding between the commissioners of elementary and secondary education and higher education within 90 days of the bill's effective date, with the office required to submit recommendations to the early college board within one year. A specific section of the General Laws will take effect on September 1, 2028.