The Board, in cooperation with the Illinois Community College Board, shall analyze the present and future aims, needs and requirements of higher education in the State of Illinois and prepare a strategic plan for the development, expansion, integration, coordination and efficient utilization of the facilities, curricula and standards of higher education for public institutions of higher education in the areas of teaching, research and public service. The strategic plan shall also include higher education affordability and accessibility measures. The Board, in cooperation with the Illinois Community College Board, shall formulate the strategic plan and prepare and submit to the General Assembly and the Governor drafts of proposed legislation to effectuate the plan. The Board, in cooperation with the Illinois Community College Board, shall engage in a continuing study, an analysis, and an evaluation of the strategic plan so developed, and it shall be its responsibility to recommend, from time to time as it determines, amendments and modifications of any strategic plan enacted by the General Assembly.