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

Furthermore, the bill designates community colleges as the preferred providers of postsecondary education and workforce training programs, as well as the lead providers of adult literacy programs under state workforce development services. The bill includes an appropriation from state and federal funds to support its implementation and mandates the commission to submit an annual report 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.