NJ A896

Creates the "Minority-Serving County College Stabilization Program" to provide grants to county colleges where at least 50% of undergraduate students are racial or ethnic minorities

Eligible colleges must have experienced at least 10% enrollment decline and reduced instructional faculty/staff due to fiscal reasons in the two years prior to applying

Applicant colleges must submit stabilization plans detailing fiscal distress, enrollment recovery strategies, staff restoration plans, and evidence of support from collective bargaining units and board of trustees

Appropriates $15 million total: $7.5 million from the General Fund and $7.5 million from federal American Rescue Plan Act funds

Recipient colleges must submit expenditure reports within 180 days of receiving grants and again 180 days later, with unspent funds at fiscal year end distributed to all minority-serving county colleges on a per-student basis