NJ A6111

Establishes the "Minority-Serving Institution of Higher Education Fund" as a nonlapsing, revolving fund to provide funding to public colleges and universities designated as minority-serving institutions under the federal Higher Education Act of 1965

Fund may receive state legislative appropriations as well as federal and private funds

Eligible uses include initiatives to increase minority student enrollment, retention, and graduation rates; expand higher education access; address equity gaps; and support student success programs

Office of the Secretary of Higher Education will administer the fund and determine the allocation methodology for distributing money to qualifying institutions

Public institutions receiving funds must report to the secretary on how the money was used