To provide grants to encourage and enhance the study of modeling and simulation at institutions of higher education.

Amends the Higher Education Act of 1965 to direct the Secretary of Education to establish a taskforce within the Department of Education to recommend improvements to the study of modeling and simulation, and identify the core capacities that students in such programs should acquire.

Authorizes the Secretary to award: (1) competitive grants to institutions of higher education (IHEs) for the enhancement of their existing modeling and simulation programs; and (2) grants to IHEs for the establishment of such programs. Requires grantees to raise, from nonfederal sources, an amount equal to 25% of their grants.