This bill amends the Fiscal Year 2026 annual appropriations act to broaden the authorized use of grant funding for Centenary University. Specifically, it modifies the existing $1,500,000 grants-in-aid appropriation by deleting the stipulation that the funds must be allocated exclusively for capital improvements. As a result, the university will have the flexibility to utilize these funds for general purposes, rather than being restricted to capital projects.

The bill also includes an insertion of $20,266,000 for support to independent institutions within the total grants-in-aid appropriation for higher educational services, which now totals $124,300,000. However, it is important to note that this legislation does not increase the overall appropriations for the Fiscal Year 2026; it simply reallocates the existing funds to provide Centenary University with greater financial flexibility. The act is set to take effect immediately upon passage.