The bill establishes the Commission on the Oversight of Public Institutions of Higher Education in New Jersey, tasked with examining the structure of public higher education and recommending improvements in financial transparency, accountability, and oversight. 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, including college presidents, faculty, and student representatives. The bill outlines the appointment process for members, emphasizing a balanced representation of geographic regions and requiring student applicants to demonstrate their experience as campus leaders.

The commission is mandated to meet at least three times and will produce a final report detailing its findings and recommendations within 180 days of its organization. This report will be submitted to the Governor and the Legislature, focusing on enhancing financial transparency, accountability, and oversight in public higher education institutions. The commission will be supported by the Office of the Secretary of Higher Education and will expire 30 days after the report is submitted.