Establishes "Minority-Serving State College and University Stabilization Program" in Office of Secretary of Higher Education; appropriates $20 million.

This bill establishes a $20 million grant program to support New Jersey's minority-serving public colleges and universities (defined as institutions where at least 50% of undergrads are racial/ethnic minorities). Eligible schools must submit detailed stabilization plans addressing at least a 10% decline in full-time undergraduate enrollment and faculty/staff reductions over two years. Grants require institutions to outline strategies for improving enrollment, restoring staff, enhancing instruction, and securing faculty/staff support letters. Funds must be spent per approved plans, with reporting requirements to the Higher Education Secretary, and unspent funds will be redistributed per student.