This bill mandates that institutions of higher education in New Mexico collect and report demographic data regarding the educational attainment of students' parents, guardians, or fictive kin. The data is to be voluntarily provided by students on their application or registration forms and reported to the higher education department. The department is responsible for publishing a report that includes this data, both separately and in conjunction with other demographic information collected by the institutions.

Additionally, the bill allows for the aggregation of the collected data at various levels, such as state, county, municipality, census tract, or zip code, to ensure individual identities are protected and to maintain statistical reliability. The aggregated data can be utilized for several purposes, including demographic comparisons, improving academic quality and services, conducting approved research, fulfilling grant requirements, and informing institutional policies and funding decisions.