(a)    The Commission shall:

(1)    Establish procedures for transfer of students between the public segments of postsecondary education;

(2)    Recommend cooperative programs among segments of postsecondary education to assure appropriate flexibility in the higher education system; and

(3)    In conjunction with the governing boards, establish standards for articulation agreements.

(b)    The Commission, in collaboration with the public institutions of higher education, shall develop and implement a statewide transfer agreement whereby at least 60 credits of general education, elective, and major courses that a student earns at any community college in the State toward an associate of arts or associate of science degree shall be transferable to any public senior higher education institution in the State for credit toward a bachelor’s degree by July 1, 2016.

(c)    The Commission, in collaboration with the public institutions of higher education, shall develop and implement a statewide reverse transfer agreement whereby at least 30 credits that a student earns at any public senior higher education institution in the State toward a bachelor’s degree are transferable to any community college in the State for credit toward an associate’s degree by July 1, 2016.

(d)    The Commission and each public institution of higher education shall develop and implement incentives for students to obtain an associate’s degree before enrolling in a public senior institution of higher education.

(e)    The Commission may recommend procedures and guidelines for consideration by the governing boards of institutions of postsecondary education on:

(1)    Improvement and coordination of student financial assistance programs; and

(2)    Other subjects of general interest and concern to the higher education community in the State.