The bill officially designates accounting as a STEM (Science, Technology, Engineering, and Mathematics) subject, thereby expanding the definition of STEM to include accounting in various educational programs aimed at increasing the recruitment and retention of underrepresented students in these fields. It amends existing laws to include accounting in programs established by the Secretary of Higher Education and the Department of Education, emphasizing the importance of addressing the underrepresentation of women and minority groups in STEM fields. The legislation also establishes the New Jersey "Accessing Careers in Engineering and Science (ACES) Program," which includes a residential pre-college summer program and an undergraduate ACES Scholar program to enhance participation among underrepresented students in STEM, including accounting.

Additionally, the bill amends existing loan redemption and tuition reimbursement programs for teachers and graduates in STEM fields, including accounting, and introduces provisions that recognize accounting as a high-growth STEM occupation. It establishes a High-Growth Industry Regional Apprenticeship Development Grant Pilot Program to support adult apprenticeship programs in high-growth industries, ensuring they are accredited and meet workforce needs. The bill aims to modernize the perception of the accounting profession, reflecting its reliance on technology and integration of mathematical principles, while strengthening the pipeline of skilled workers in STEM fields and providing financial support and resources to students and educators.

Statutes affected:
Introduced: 18A:3B-98, 18A:3B-99, 18A:3B-100, 18A:6-137, 18A:6-138, 18A:64O-2, 18A:71B-105, 18A:71B-106, 18A:71C-67, 18A:71C-77, 18A:71C-78, 18A:71C-79, 34:15D-32