1. Short title This Act may be cited as the Realizing Excellence in Institutional Grants, New Infrastructure, Technology and Education Act of 2024 . 2. Grants for the long-term improvement of MSIs (a) In general The Secretary shall award grants to eligible entities, on a competitive basis, to support long-term improvements to the facilities of such entities in accordance with this Act. (b) Application To be considered for a grant under this section, an eligible entity shall submit an application to the Secretary at such time, in such manner, and containing such information as the Secretary may require, including— (1) to the extent possible, the information necessary for the Secretary to make the determinations under subsection (c); (2) a description of the projects that such eligible entity plans to carry out with the grant, and how such projects will advance the long-term goals of the entity; and (3) an explanation of how such projects will reduce risks to the health, welfare, and safety of students, staff, administrators, faculty, researchers, and guests at such eligible entity. (c) Priority In awarding grants under this section, the Secretary— (1) shall give priority to eligible entities that— (A) demonstrate the greatest need to improve campus facilities, as determined by a comparison of factors identified by the Secretary, which may include— (i) consideration of threats posed by the proximity of such facilities to toxic sites; (ii) the vulnerability of such facilities to natural disasters and environmental risks; (iii) the median age of such facilities, including the facilities that such eligible entities will use grant funds to improve; (iv) the extent to which student enrollment exceeds physical and instructional capacity; (v) the condition of major systems in such facilities such as heating, ventilation, air conditioning, electrical, water, and sewer systems; (vi) the condition of roofs, windows, and doors of such facilities; (vii) other critical health and safety conditions