(1) In order to develop and implement equivalency standards as provided for in subsection (c)(1) and provide access to articulation agreements, there is hereby established within the department, the Transfer and Articulation Oversight Committee. The committee shall be comprised of the following members:

(2) Members shall be appointed to four-year terms. Terms of committee members shall be staggered.

(1) The chair of the committee shall appoint a dispute resolution subcommittee comprised of:

(2) The chair of the committee may add members to the dispute resolution subcommittee.

(3) The dispute resolution subcommittee shall develop dispute resolution policies and procedures to be utilized when disputes arise relating to the transfer and application of credits under this article.

(1) Within 180 days of the effective date of this section, develop, in consultation with faculty and personnel, equivalency standards for foundation courses and provide these standards to the department, the Education Committee of the Senate, the Education Committee of the House of Representatives, the Appropriations Committee of the Senate and the Appropriations Committee of the House of Representatives.

(2) Within one year of the effective date of this section, determine equivalent courses for at least 30 hours of foundation courses, not including developmental or remedial courses or career, technical or applied courses, in consultation with faculty and personnel.

(3) Develop an assessment/evaluation plan and identify appropriate information and collect appropriate data to ensure the effectiveness of section 2002-C² and make necessary revisions thereto over time.

(4) Review interim reports submitted to the department and, within 90 days of receipt of each report, recommend to the department action to be taken by the committee to enable the transfer of credits among public institutions of higher education and institutions that elect to participate under section 2006-C.

(5) Submit an annual report to the General Assembly that details the progress made by the public institutions of higher education and institutions that elect to participate under section 2006-C in furtherance of enabling the transfer of credits between such institutions and which recommends further action to be taken.

(6) Within one year of the effective date of this paragraph,³ develop and implement uniform standards for awarding academic credit for prior learning, in consultation with faculty and personnel for public institutions of higher education and institutions that elect to participate under section 2006-C.

(7) Meet on a regular basis at least quarterly.