This bill mandates that each public institution of higher education in New Jersey must submit an annual capital projects report to the Secretary of Higher Education by January 1. The report is required to include detailed information about each project in the planning or construction phase, such as the project's name and description, location, estimated cost, projected completion date, progress to date, sources of funding, amounts from each funding source, any bonds to be issued, and the total bonded indebtedness of the institution.

Additionally, the Secretary of Higher Education is tasked with making these reports publicly accessible on the department's website in an easily navigable format. This initiative aims to enhance transparency and accountability regarding capital projects undertaken by public higher education institutions in the state.