This bill reauthorizes and expands the National Science Foundation's Research Experiences for Undergraduates (REU) program, which provides summer and academic-year research opportunities for college students in science and engineering fields. The legislation requires that at least half of participants at each REU site come from schools with limited research opportunities, such as community colleges, minority-serving institutions, and schools in rural areas. It also prioritizes recruiting students with little prior research experience, first-generation college students, and underrepresented groups in STEM. The bill authorizes $100 million annually for fiscal years 2027 through 2032 to support student stipends, travel costs, mentor training, professional development, and program evaluation. Additionally, it requires the NSF to submit a report to Congress within four years assessing long-term outcomes of REU participants and recommendations for improving recruitment and coordination with other federal agencies.