This bill establishes the Commission on the Oversight of Public Institutions of Higher Education in New Jersey, aimed at enhancing financial transparency, accountability, and oversight within public higher education. The commission will consist of 12 members, including ex officio representatives from the Secretary of Higher Education and the Executive Director of the Higher Education Student Assistance Authority, as well as appointees from the Governor and legislative leadership. Notably, the commission will include student representatives from various types of public institutions, who will be appointed based on an application process that emphasizes geographic diversity.

The commission is tasked with evaluating the financial transparency of public institutions, assessing accountability measures, and ensuring effective oversight. It is required to meet at least three times and will produce a final report with findings and recommendations within 180 days of its organization. This report will be submitted to the Governor and the Legislature, after which the commission will dissolve 30 days later. The bill emphasizes collaboration among various stakeholders in higher education to address critical issues affecting students and institutions alike.