NJ S4881

Authorizes the merger of New Jersey City University (NJCU) into Kean University, with NJCU ceasing to exist as a separate entity and becoming an additional campus of Kean University in Jersey City

Transfers all NJCU assets, property, employees, appropriations, grants, and debts to Kean University upon completion of the merger and receipt of required federal and accreditation approvals

Appropriates $25 million from the General Fund to Kean University to effectuate the merger

Requires the State to assist Kean University in reducing NJCU's debt (exceeding $150 million as of June 2024) held by the New Jersey Educational Facilities Authority and Economic Development Authority through defeasance or other financial means

Protects tenure rights and academic rank of former NJCU faculty who acquired tenure, and classifies Kean University as a public research university for purposes of determining Tuition Aid Grant amounts

Reduces the number of State colleges from six to five and removes NJCU from the New Jersey Association of State Colleges and Universities membership