This bill, known as the "Service Academy Parity Act," amends title 14 of the United States Code to establish a formal nomination and appointment process for cadets to the Coast Guard Academy. This new system aims to align the Coast Guard Academy's admissions with practices at other U.S. service academies, requiring nominees to be U.S. citizens or nationals and meet specific criteria set by the Secretary. The legislation designates a broad range of nominating authorities, including the Vice President, Senators, Members of the House of Representatives, and Delegates from various U.S. territories, alongside the Commandant for enlisted Coast Guard personnel. Starting in the 2029 academic year, cadet positions will be allocated, including specific slots for children of fallen or disabled service members, an at-large nomination by the Vice President, and 230 positions for States based on congressional representation. Further allocations are made for residents of the District of Columbia, U.S. territories, and Puerto Rico. The Secretary, in collaboration with the Commandant, must establish a competitive system for appointments based on examinations, academic background, and other merit indicators. Appointments will prioritize candidates by jurisdiction and then by overall merit for any remaining positions. The bill also mandates that congressional nominators receive notification at least 48 hours before an official appointment announcement, enhancing transparency in the selection process.