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

The text of the bill below is as of Jul 11, 2016 (Reported by House Committee).


IB

Union Calendar No. 525

114th CONGRESS

2d Session

H. R. 5530

[Report No. 114–677]

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

July 11, 2016

Additional sponsors: Mr. Scott of Virginia, Mr. Kline, Mr. Hinojosa, Mr. Roe of Tennessee, Mr. Courtney, Mr. Thompson of Pennsylvania, Ms. Fudge, Ms. Bonamici, Mr. Pocan, Ms. Wilson of Florida, and Ms. Lee

July 11, 2016

Reported with an amendment, committed to the Committee of the Whole House on the State of the Union, and ordered to be printed

Strike out all after the enacting clause and insert the part printed in italic

For text of introduced bill, see copy of bill as introduced on June 20, 2016


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). That report shall also include—

(A)

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; and

(B)

administrative and legislative recommendations, as needed, for addressing the issues related to construction financing facing historically Black colleges and universities.

.

July 11, 2016

Reported with an amendment, committed to the Committee of the Whole House on the State of the Union, and ordered to be printed