I
115th CONGRESS
1st Session
H. R. 1123
IN THE HOUSE OF REPRESENTATIVES
February 16, 2017
Ms. Adams (for herself, Mr. Byrne, Ms. Sewell of Alabama, and Mr. Hill) 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.
Short title
This Act may be cited as the HBCU Capital Financing Improvement Act
.
Bond insurance
Section 343 of the Higher Education Act of 1965 (20 U.S.C. 1066b) is amended—
by striking escrow account
each place it appears and inserting bond insurance fund
; and
in subsection (b)—
in paragraph (1), by striking an
and inserting a
; and
in paragraph (8), in the matter preceding subparagraph (A), by striking an
and inserting a
.
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:
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
.
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:
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—
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
administrative and legislative recommendations, as needed, for addressing the issues related to construction financing facing historically Black colleges and universities.
.