The bill proposes the merger of New Jersey City University (NJCU) with Kean University, aimed at enhancing educational opportunities in Hudson County and addressing NJCU's financial instability. Known as the Kean University - New Jersey City University Merger Act, the legislation outlines that all functions, powers, and assets of NJCU will be transferred to Kean University upon the merger's completion on October 1, 2025. It also specifies that NJCU employees will become new employees of Kean University without retaining seniority, tenure, or academic rank, while ensuring their rights to state pension and health benefits remain intact. The bill nullifies previous findings of financial instability at NJCU and eliminates the need for further state authority approval for the merger.

Additionally, the bill amends existing laws to reflect the changes resulting from the merger, including updating the definition of public institutions of higher education and modifying the composition and election process for Kean University's board of trustees. It establishes that the Governor, in consultation with the Department of the Treasury, will adjust procurement thresholds based on the consumer price index starting July 1, 2027. The legislation also allows for greater operational flexibility, including the ability to merge with other nonprofit educational entities without requiring Attorney General approval, and clarifies liability protections for trustees and officers. Overall, the bill aims to promote the financial stability of Kean University while preserving NJCU's educational mission for the local community.

Statutes affected:
Introduced: 18A:64-45, 18A:64-46, 18A:64O-7, 18A:64O-8, 18A:64O-9, 18A:64O-11, 18A:64O-13, 18A:64O-16, 18A:64O-21, 18A:64O-24, 18A:71-30