This bill revises the licensure process for out-of-State institutions of higher education seeking to offer college credit-bearing courses, academic degree completion programs, or complete academic degree programs with a physical presence in New Jersey. It mandates that these institutions petition the Secretary of Higher Education for licensure, providing detailed information including their accreditation status, mission statement, financial resources, faculty qualifications, and an impact analysis on existing in-State institutions. The impact analysis must address unmet demand for the proposed programs and their potential effects on clinical placements and existing programs in the state.

The Secretary of Higher Education is tasked with reviewing the petitions, distributing summaries for public comment, and consulting the New Jersey Presidents Council for recommendations before making a final determination. The bill also requires the Secretary to prepare an annual report on the petitions, detailing their outcomes and recommendations. Additionally, licensed out-of-State institutions must submit annual reports on enrollment, program changes, and student outcomes. The Secretary has the authority to suspend or revoke licenses if institutions fail to meet performance standards or misrepresent data. Overall, this bill aims to ensure that out-of-State institutions meet New Jersey's educational standards while providing transparency and accountability in the licensure process.