This bill establishes the Private Institution of Higher Education Security Grant Program within the Office of Homeland Security and Preparedness, aimed at providing financial assistance to private institutions of higher education deemed at high risk of unlawful activities, including violence, vandalism, and cyber security threats. The bill defines eligible institutions as independent or private colleges licensed by the Secretary of Higher Education and accredited by recognized accrediting associations, including certain proprietary institutions for specific degree programs.

Grants from this program can be utilized for various security-related purposes, such as hiring security personnel, acquiring preparedness equipment, and installing security infrastructure like cameras and alarms. Institutions must apply for these grants using a prescribed format, detailing the intended use of the funds. The evaluation process prioritizes institutions at high risk of threats and gives preference to those that have not received federal or state security grants in the past two academic years. The bill allocates $5 million from the General Fund to support the program's objectives.