Establishes "Minority-Serving Institution of Higher Education Fund" to support certain initiatives at public institutions of higher education designated as minority serving institutions.

This bill establishes a permanent fund to support public colleges and universities in New Jersey that are federally designated as minority-serving institutions (MSIs). The fund, financed by state appropriations and eligible federal or private funds, provides resources for initiatives aimed at increasing minority student enrollment, retention, and graduation rates, expanding access to higher education, and addressing equity gaps. The state's Office of the Secretary of Higher Education will administer the fund and distribute money to qualifying institutions based on a methodology they develop. Recipients must report how they use the funds to the Secretary.