This bill prohibits public institutions of higher education in New Jersey from entering into any form of partnership or agreement with institutions located in Palestinian-controlled territories, specifically the West Bank and Gaza. This includes contracts, joint ventures, memoranda of understanding, and any collaborative arrangements. Additionally, the bill restricts these institutions from transferring, licensing, or sublicensing intellectual property to their counterparts in these regions.

If a public institution is found to be non-compliant with these provisions, it will lose eligibility for state support related to its operational and capital costs. The bill defines "intellectual property" broadly, encompassing all original data and findings protected under various forms of intellectual property law. The act is set to take effect immediately upon passage.