The "Pursuing Equity in Mental Health Act" seeks to address mental health issues and disparities, particularly among youth from racial and ethnic minority groups. It amends the Public Health Service Act to give special consideration to eligible entities serving a high proportion of racial and ethnic minority groups when awarding primary and behavioral health care grants. The bill also increases the authorization of appropriations for this grant program to $80,000,000 annually for fiscal years 2026 through 2031. To address knowledge gaps, the bill mandates a study by the National Academies of Sciences, Engineering, and Medicine on mental health disparities research gaps in racial and ethnic minority groups. This study will assess prevalence, the impact of trauma like community violence and structural bias, and propose recommendations. Furthermore, it enables the use of funds for health professions fellowships to develop and disseminate best practices and core competencies for training students in fields such as social work, psychology, and psychiatry, specifically addressing mental health disparities among these groups. The legislation requires the Secretary to develop and implement a behavioral and mental health outreach and education strategy tailored to the diverse cultural and linguistic needs of racial and ethnic minority groups, aiming to reduce stigma and increase awareness of mental health conditions. This strategy will promote evidence-based, culturally appropriate interventions and engage community members in its development. Finally, the bill authorizes substantial additional appropriations, including $150,000,000 annually for the National Institutes of Health for clinical research on disparities and the youth mental health disparities framework, and $750,000,000 annually for the National Institute on Minority Health and Health Disparities for fiscal years 2026 through 2031.