Bill Text: NJ A2690 | 2024-2025 | Regular Session | Introduced
Bill Title: Requires public institution of higher education to annually submit capital projects report to Secretary of Higher Education; requires secretary to post reports on website.
Spectrum: Partisan Bill (Republican 1-0)
Status: (Introduced) 2024-01-09 - Introduced, Referred to Assembly Higher Education Committee [A2690 Detail]
Download: New_Jersey-2024-A2690-Introduced.html
STATE OF NEW JERSEY
221st LEGISLATURE
PRE-FILED FOR INTRODUCTION IN THE 2024 SESSION
Sponsored by:
Assemblyman JAY WEBBER
District 26 (Morris and Passaic)
SYNOPSIS
Requires public institution of higher education to annually submit capital projects report to Secretary of Higher Education; requires secretary to post reports on website.
CURRENT VERSION OF TEXT
Introduced Pending Technical Review by Legislative Counsel.
An Act concerning capital projects at public institutions of higher education and supplementing chapter 3B of Title 18A of the New Jersey Statutes.
Be It Enacted by the Senate and General Assembly of the State of New Jersey:
1. a. Each public institution of higher education in the State shall annually submit a capital projects report to the Secretary of Higher Education. The report shall include, but not be limited to, the following information: the name and description of each project in the planning or construction phase; the location of the project; estimated cost; projected completion date; the progress of completion to date; sources of funding; the amount of funds from each source; the amount of any bonds to be issued for the project by the State, the institution, the New Jersey Educational Facilities Authority, or the county, as applicable, and the schedule for the issuance of those bonds; and the total amount of the institution's bonded indebtedness. The report shall be submitted to the secretary by January 1 of each year.
b. The secretary shall make each institution's capital projects report, required pursuant to subsection a. of this section, available for public inspection on its website in an easily accessible location.
c. As used in this act, a "public institution of higher education" means: Rutgers, The State University; the New Jersey Institute of Technology; Rowan University; Montclair State University; Kean University; a State college or university established pursuant to chapter 64 of Title 18A of the New Jersey Statutes; a county college and any other public university or college now or hereafter established or authorized by State law.
2. This act shall take effect immediately.
STATEMENT
Under this bill, a public institution of higher education in the State will be required to submit a capital projects report to the Secretary of Higher Education by January 1 of each year. The report will include, but not be limited to, the following information: the name and description of each project in the planning or construction phase; the location of the project; estimated cost; projected completion date; the progress of completion to date; sources of funding; the amount of funds from each source; the amount of any bonds to be issued for the project by the State, the institution, the New Jersey Educational Facilities Authority, or the county, as applicable, and the schedule for the issuance of those bonds; and the total amount of the institution's bonded indebtedness.
The bill also requires the Secretary of Higher Education to make each institution's capital projects report available for public inspection on its website in an easily accessible location.
