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H.R. 5530 (114th): HBCU Capital Financing Improvement Act

The text of the bill below is as of Jun 20, 2016 (Introduced).


I

114th CONGRESS

2d Session

H. R. 5530

IN THE HOUSE OF REPRESENTATIVES

June 20, 2016

(for herself and Mr. Byrne) introduced the following bill; which was referred to the Committee on Education and the Workforce

A BILL

To amend the Higher Education Act of 1965 to modify certain provisions relating to the capital financing of historically Black colleges and universities.

1.

Short title

This Act may be cited as the HBCU Capital Financing Improvement Act.

2.

Bond insurance

Section 343 of the Higher Education Act of 1965 (20 U.S.C. 1066b) is amended—

(1)

by striking escrow account each place it appears and inserting bond insurance fund; and

(2)

in subsection (b)—

(A)

in paragraph (1), by striking an and inserting a; and

(B)

in paragraph (8), in the matter preceding subparagraph (A), by striking an and inserting a.

3.

Strengthening technical assistance

Paragraph (9) of section 345 of the Higher Education Act of 1965 (20 U.S.C. 1066d) is amended to read as follows:

(9)

may, directly or by grant or contract, provide financial counseling and technical assistance to eligible institutions to prepare the institutions to qualify, apply for, and maintain a capital improvement loan, including a loan under this part; and

.

4.

HBCU Capital Financing Advisory Board

Paragraph (2) of section 347(c) of the Higher Education Act of 1965 (20 U.S.C. 1066f(c)) is amended to read as follows:

(2)

Report

On an annual basis, the Advisory Board shall prepare and submit to the authorizing committees a report on the status of the historically Black colleges and universities described in paragraph (1)(A) and an overview of all loans in the capital financing program, including the most recent loans awarded in the fiscal year in which the report is submitted. The report shall include administrative and legislative recommendations, as needed, for addressing the issues related to construction financing facing historically Black colleges and universities.

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