The bill establishes the New Economy Opportunity Skills System Pilot Program, aimed at enhancing collaboration between local workforce development boards and community colleges in New Jersey. The State Employment and Training Commission will initiate this pilot program in three local areas, focusing on joint development of workforce training programs that emphasize industry-recognized credentials, collaborative branding and outreach efforts, integrated planning for funding resources, and performance evaluations based on metrics aligned with federal and state workforce development programs. Additionally, the commission will work with the New Jersey Council of County Colleges to create a strategy for statewide alignment, which will include guidelines for scaling the pilot program, recommendations for necessary legislative and regulatory changes, and an implementation timeline.

Community colleges are designated as the preferred providers of postsecondary education, workforce training, and adult literacy programs under state workforce development services. The bill also includes provisions for appropriating necessary state and federal funds for the program's implementation, with a preference for utilizing federal funds first. An annual report on the pilot program's progress and outcomes will be submitted to the Governor and the Legislature, ensuring accountability and transparency in the program's effectiveness. The act will take effect immediately and will expire three years after its effective date.