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, collaborative marketing efforts, integrated funding planning, and performance evaluations based on metrics aligned with federal and state workforce development standards. Additionally, the commission, in partnership with the New Jersey Council of County Colleges, will create a strategy for statewide alignment, including guidelines for scaling the pilot program, recommendations for necessary legislative changes, and an implementation timeline.

Furthermore, the bill designates community colleges as the preferred providers of postsecondary education, workforce training, and adult literacy programs within the state's workforce development services. It includes provisions for appropriating necessary state and federal funds for the program's implementation and mandates the commission to submit annual reports to the Governor and Legislature detailing the pilot program's progress, participant outcomes, and recommendations for improvements. The act will take effect immediately and will expire three years after its effective date, although anticipatory administrative actions may be taken beforehand.