The bill establishes the New Jersey Workforce Industry Needs Scholarship, aimed at providing financial support to students pursuing professional certificates, industry-recognized credentials, diplomas, or degrees from eligible programs at county colleges or vocational schools. The Secretary of Higher Education, in collaboration with various state departments and organizations, will create a list of eligible programs that align with the labor needs identified in the Labor Demand Occupation List. These programs will cover high-demand fields such as advanced manufacturing, healthcare, education, and more. The scholarship will cover tuition, fees, and related expenses, capped at $5,000 per year, with eligibility extending up to three years for associate degree students and two years for other programs, contingent upon maintaining a minimum GPA of 2.0.

Scholarships will be awarded annually based on available funding, with priority given to students in high-need industries and a minimum of five percent reserved for dual-enrollment students. The Secretary will also be responsible for submitting an annual report detailing scholarship distribution, average amounts, credential categories completed, and job placement rates. Additionally, the Secretary may accept grants and donations to support the scholarship program, provided they do not conflict with existing state laws. The act is set to take effect immediately and will apply to the first full academic year following its enactment.