To amend the Office of Federal Procurement Policy Act to provide for the participation of historically Black colleges and universities in federally funded research and development activities.

Amends the Office of Federal Procurement Policy Act to direct the Administrator of General Services to prescribe regulations to ensure the participation of (except in specified circumstances) at least five historically Black colleges and universities and nonprofit organizations owned and controlled by Black Americans in research and development (R&D) activities conducted with Federal funds by executive agencies. Outlines the requirements to be imposed on executive agencies through such regulations, including the requirement that each such agency reserve a specified percent of its FY 1992 through 1995 appropriations for R&D activities to be conducted by the Black colleges it must designate under this Act as federally funded R&D centers. Increases such set-aside on a graduated basis for such fiscal years.

Directs the Comptroller General to study and report to the Congress annually on the activities of executive agencies in carrying out this Act.