Sponsored by:
Senator ANGELA V. MCKNIGHT
District 31 (Hudson)
SYNOPSIS
Establishes “Minority-Serving Institution of Higher Education Fund” to support certain initiatives at public institutions of higher education designated as minority serving institutions.
CURRENT VERSION OF TEXT
As introduced.
An Act concerning minority-serving institutions of higher education and supplementing Title 18A of the New Jersey Statutes.
Be It Enacted by the Senate and General Assembly of the State of New Jersey:
1. a. There is established a nonlapsing, revolving fund to be known as the “Minority-Serving Institution of Higher Education Fund.” The fund shall be credited with moneys as may be appropriated by the Legislature, and any federal or private funds that may be available for the purposes of the fund. Moneys in the fund shall be used to provide funding to public institutions of higher education designated as minority-serving institutions pursuant to the federal “Higher Education Act of 1965,” Pub.L.89-329 (20 U.S.C. s.1001 et seq.).
b. Moneys in the fund may be used to:
(1) support initiatives to increase enrollment, retention, and graduation rates of minority students;
(2) expand access to higher education;
(3) address equity gaps in higher education; and
(4) support student success initiatives.
c. The Office of the Secretary of Higher Education shall administer the fund and allocate balances in the fund to minority-serving institutions pursuant to a methodology to be determined by the secretary.
d. A public institution which receives funds pursuant to this section shall report to the secretary, in a manner and form to be determined by the secretary, details concerning the use of these funds.
2. This act shall take effect immediately.
STATEMENT
This bill establishes the “Minority-Serving Institution of Higher Education Fund” as a nonlapsing, revolving fund to provide funding to public institutions of higher education designated as minority-serving institutions pursuant to federal law.
The fund is to be credited with moneys appropriated by the Legislature, and any federal or private funds that may be available. These funds may be used to support initiatives to increase enrollment, retention, and graduation rates of minority students; expand access to higher education; address equity gaps in higher education; and support student success initiatives.
Under the bill, the Office of the Secretary of Higher Education is required to administer the fund and allocate balances in the fund to public institutions of higher education designated as minority-serving institutions pursuant to a methodology to be determined by the secretary. Finally, a public institution which receives funds is required to report to the secretary details concerning the use of these funds.