Establishes process for merger or consolidation of public institution of higher education with other institutions of higher education or certain proprietary institutions; requires executive and legislative approval of merger or consolidation.

This bill (S 4597) establishes a formal approval process for mergers or consolidations between New Jersey public institutions of higher education and certain private institutions. It requires participating institutions' governing boards to adopt resolutions, submit joint applications to the Secretary of Higher Education, and develop a comprehensive plan for review. The Secretary must assess the merger's necessity and benefits to students, faculty, staff, and communities before issuing final approval, which then requires 90 days of legislative review (where the Legislature can block it via concurrent resolution). The single remaining institution after a merger would be treated as one entity for state funding. The process does not apply to Rutgers University or mergers with a pre-existing letter of intent.