This bill mandates that the governing board of a public institution of higher education must notify the Secretary of Higher Education before initiating any merger or consolidation, which includes mergers or consolidations of individual schools within the institution. The notification must be submitted within 14 days of the governing board's resolution or agreement to proceed with the merger or consolidation.

The required notice must include specific information: the rationale behind the proposed merger or consolidation, an estimate of the projected costs along with a preliminary assessment of any fiscal impacts, and an evaluation of how the merger or consolidation will affect students and employees of the institutions involved. This legislation aims to ensure transparency and accountability in the process of institutional changes within higher education in New Jersey.