Requires the NSF Director to establish an advisory council on the best approaches for involving eligible institutions in supported activities and for reviewing and evaluating submitted proposals. Requires the council to include members from minority serving institutions.
Makes the following institutions eligible for such assistance: (1) a historically Black college or university; (2) a Hispanic-, Alaska Native-, or Native Hawaiian-serving institution; (3) a tribally controlled college or university; or (4) an institution determined to have enrolled a substantial number of minority, low-income students who received assistance under the Higher Education Act of 1965. Provides a matching funds requirement.
Prohibits an institution that receives assistance exceeding $2.5 million from receiving further assistance until every other eligible institution has received assistance under this Act.
Requires each institution receiving such assistance to report annually to the Director on its use of such assistance. Requires the Director to review such reports, evaluate such assistance program, and report recommendations to Congress, including recommendations on the continuing need for Federal support of the program.
Authorizes appropriations for FY 2004 through 2008.