Requires New Jersey Commission on Science, Innovation, and Technology to establish matching grant program for public research universities that receive certain federal research grants; appropriates $5 million.

This bill creates a $5 million matching grant program administered by New Jersey's Commission on Science, Innovation, and Technology for public research universities. It requires universities receiving certain federal research grants (those needing or prioritizing a financial match) to apply for state funds to cover their required matching share. The program prioritizes projects aligned with state economic development goals and university research capacity, with applications evaluated on economic impact, industry alignment, student opportunities, and equitable funding. The Commission must annually report to state leaders on recipient projects and the program's effectiveness in advancing economic development.