This bill proposes a supplemental appropriation of approximately $144.2 million to enhance the Outcomes-Based Allocation funding for New Jersey's public four-year institutions of higher education. This funding is in addition to the $220.5 million already allocated in the FY 2025 Appropriations Act. The distribution of these funds is based on various metrics, including the total number of degrees awarded, the number of degrees awarded to underrepresented minority groups, and the number of degrees awarded in STEM and healthcare fields, among others.

The bill specifies the allocation of funds to individual institutions, with each receiving a designated amount for institutional support categorized as "Grants-in-Aid." For example, Rutgers University in New Brunswick is set to receive $32.6 million, while Montclair State University will receive $19.3 million. The bill aims to address the estimated future needs of these institutions and will distribute the funds in accordance with the existing framework established in the FY 2025 Appropriations Act.