Requires degree-granting proprietary institutions to expend at least 70 percent of tuition and fee revenues on educational instruction and student support services.

This bill requires New Jersey's for-profit colleges that grant degrees to spend at least 70% of their tuition and fee revenue on teaching and student support services, such as tutoring, counseling, and career assistance. These institutions must annually report by July 1st to the state's higher education secretary how they allocated tuition and fees, breaking it down into teaching, student support, and advertising expenses. If a college fails to meet the 70% requirement, the state can notify it and, after one year, revoke its license to award degrees. The bill also mandates that college executives with financial stakes disclose those investments to the state.