Adds technology transfer duties to New Jersey Commission on Science, Innovation and Technology.

This bill (S 553) adds a specific technology transfer duty to New Jersey's Commission on Science, Innovation and Technology. It requires the Commission to appoint an Innovation Council to determine how to better transfer technology between the state's public/private higher education institutions and industry, including sharing federal agency information. The Council must then report on improving this process to the Commission. The bill directly affects the Commission, higher education institutions, and businesses seeking to collaborate on technology development and commercialization. It does not create new funding but clarifies the Commission's role in facilitating these technology transfers.