H.R.5530 - HBCU Capital Financing Improvement Act114th Congress (2015-2016)
|Sponsor:||Rep. Adams, Alma S. [D-NC-12] (Introduced 06/20/2016)|
|Committees:||House - Education and the Workforce | Senate - Health, Education, Labor, and Pensions|
|Committee Reports:||H. Rept. 114-677|
|Latest Action:||07/12/2016 Received in the Senate and Read twice and referred to the Committee on Health, Education, Labor, and Pensions. (All Actions)|
This bill has the status Passed House
Here are the steps for Status of Legislation:
- Passed House
Summary: H.R.5530 — 114th Congress (2015-2016)All Information (Except Text)
Passed House amended (07/11/2016)
HBCU Capital Financing Improvement Act
(Sec. 2) This bill amends title III (Institutional Aid) of the Higher Education Act of 1965 to modify the HBCU Capital Financing Program. [The program guarantees low-cost private loans to historically black colleges and universities (HBCUs) to finance infrastructure repairs, maintenance, and construction.]
It replaces statutory references to "escrow account" with "bond insurance fund."
(Sec. 3) The bill authorizes the Department of Education to provide financial counseling that prepares an eligible HBCU to qualify for, apply for, and maintain a capital improvement loan.
(Sec. 4) It revises and expands reporting requirements for the HBCU Capital Financing Advisory Board.