The bill establishes the Nursing School Expansion Grant Program, which will be administered by the New Jersey Economic Development Authority (NJEDA). This program aims to provide grants to eligible nursing education programs within the state to enhance their capacity and improve the nursing workforce supply. The bill appropriates $25 million from the General Fund to the NJEDA for this purpose, with $24.5 million allocated for grants and a maximum of $500,000 designated for administrative costs.

Eligible nursing education programs can apply for grant funding by submitting an application to the Chief Executive Officer of the NJEDA. The application must include various data points, such as enrollment and graduation rates, plans for increasing these rates, demographic profiles, faculty expansion plans, and partnerships with other nursing programs. The Chief Executive Officer, in consultation with the New Jersey Collaborating Center for Nursing, will develop criteria for evaluating these applications and will award grants based on available appropriations. The bill is set to take effect immediately upon passage.