SENATE HIGHER EDUCATION COMMITTEE

STATEMENT TO

SENATE, No. 2516

STATE OF NEW JERSEY

DATED:  JUNE 18, 2018

     The Senate Higher Education Committee reports favorably Senate Bill No. 2516.

     This bill establishes a New Jersey Higher Education Funding Formula Commission.  Under the bill, the commission will consist of 11 members including: the Secretary of Higher Education, or a designee, who will serve ex-officio; the executive director of the Higher Education Student Assistance Authority, or a designee, who will serve ex-officio; five members to be appointed by the Governor including a representative of the State colleges and universities, a representative of the public research universities, a representative of the county colleges, a representative of the independent colleges and universities, and one public member; one member to be appointed by the Senate President; one member to be appointed by the Minority Leader of the Senate; one member to be appointed by the Speaker of the General Assembly; and one member to be appointed by the Minority Leader of the General Assembly.

     The duties of the commission will be to:

     (1) examine higher education funding formulas in other states, including a thorough review of performance-based funding formulas, and identify best practices;

     (2) solicit and review detailed information from all of the State’s institutions of higher education on their funding needs, programs and operations, and outputs; and 

      (3) develop a report that includes a higher education funding formula for the State support of institutions of higher education.  The report may include such recommendations for legislative or regulatory action as the commission deems appropriate.