ASSEMBLY, No. 1433

STATE OF NEW JERSEY

INTRODUCED FEBRUARY 5, 1996

By Assemblymen BATEMAN, AZZOLINA, Asselta and Assemblywoman Farragher

An Act authorizing the Commissioner of Commerce and Economic Development to establish a New Jersey Higher Education International Network and supplementing P.L.1985, c.160 (C.52:27H-22.1 et seq.).

    Be It Enacted by the Senate and General Assembly of the State of New Jersey:

    1. The Commissioner of Commerce and Economic Development is authorized to establish a New Jersey Higher Education International Network.

    2. The purpose of the New Jersey Higher Education International Network shall be to use the international contacts developed by State and private institutions of higher education to promote international business for New Jersey companies through reverse investment, foreign trade and venture partnerships.

    3. In order to implement the network, the commissioner is authorized to:

    a. Identify how foreign offices and affiliations of institutions of higher education can be utilized to promote international trade;

    b. Establish relationships with institutions of higher education for participation on the New Jersey Higher Education International Network, which may include but need not be limited to, the New Jersey Institute of Technology, Rutgers, The State University and appropriate community colleges;

    c. Develop a procedure for dissemination of information gathered through the New Jersey Higher Education International Network to New Jersey companies;

    d. Take all appropriate action to develop and facilitate the use of the New Jersey Higher Education International Network, which may include but need not be limited to, delegating responsibilities for establishing the network to a nonprofit corporation organized to implement the recommendations of the economic master plan commission. As used in this section, "economic master plan commission" refers to the New Jersey Economic Master Plan Commission established pursuant to Executive Order No. 1 issued by the Governor on January 18, 1994; and

    e. Work with private sector businesses to develop public-private partnerships to assist in establishing the New Jersey Higher Education International Network.

    4. Within one year of the effective date of this act, the commissioner shall report to the Governor and the Legislature on the outcome of the department's efforts to establish and implement a New Jersey Higher Education International Network authorized pursuant to this act.

    5. This act shall take effect immediately.

STATEMENT

    This bill authorizes the Commissioner of Commerce and Economic Development to establish the New Jersey Higher Education International Network.

    The purpose of the New Jersey Higher Education International Network would be to use the international contacts developed by State and private institutions of higher education, which may include, but need not be limited to, the New Jersey Institute of Technology, Rutgers, The State University and appropriate community colleges, to promote international business for New Jersey companies through reverse investment, foreign trade and venture partnerships. Many academic institutions are held in the highest esteem by foreign governments and can be effective in marketing New Jersey to key decision-makers globally. For example, the New Jersey Institute of Technology has been active in the former Soviet Union, Malaysia, the Philippines, Northern Ireland and France. The network would enable New Jersey businesses to utilize these existing relationships to promote foreign investment and international trade.

    The bill authorizes the commissioner to: (1) identify how foreign offices and affiliations of institutions of higher education can be utilized to promote international trade; (2) establish relationships with institutions of higher education for participation on the New Jersey Higher Education International Network; (3) develop procedures for dissemination of information gathered through the network to New Jersey companies; and (4) take all appropriate action to develop and facilitate the use of the network, which may include delegating responsibilities for establishing the network to a designated nonprofit corporation. The bill requires the commissioner to report back to the

Governor and the Legislature within one year of the effective date of the bill.