This bill amends the quorum requirements for the New Jersey Educational Facilities Authority by changing the definition of a quorum from a majority of the total authorized membership to a majority of the current membership, with a minimum of three members required to constitute a quorum at any meeting. This change aims to streamline the decision-making process within the authority, making it easier for meetings to proceed even if some members are absent.

Additionally, the bill clarifies that any vacancies in the membership will not impair the authority's ability to exercise its rights and perform its duties, ensuring that the authority can continue to function effectively despite changes in its composition. The bill is set to take effect immediately upon passage.