The bill seeks to establish a maternal mental health equity grant program, providing funding for eligible entities addressing maternal mental health conditions and substance use disorders, prioritizing groups with elevated maternal mortality and health disparities. It outlines the use of funds, including expanding maternity care programs, addressing stigma, and offering suicide prevention for pregnant and postpartum individuals. Additionally, the bill proposes grants to grow and diversify the maternal mental and behavioral health care workforce, focusing on diversifying the workforce and prioritizing underserved populations. Lastly, it outlines reporting requirements and authorizes appropriations for both programs.