Equity in Law Enforcement Act - Amends the Omnibus Crime Control and Safe Streets Act of 1968 to include within the definition of "public safety officer" certain law enforcement officers serving private institutions of higher education and rail carriers (thus qualifying such officers for line-of-duty death and disability benefits). Qualifies such officers for law enforcement armor vest grant programs and for state and local law enforcement assistance grants under the Edward Byrne Memorial Justice Assistance Grant Program.