H.R.1123 - HBCU Capital Financing Improvement Act115th Congress (2017-2018) |
|Sponsor:||Rep. Adams, Alma S. [D-NC-12] (Introduced 02/16/2017)|
|Committees:||House - Education and the Workforce|
|Latest Action:||House - 02/16/2017 Referred to the House Committee on Education and the Workforce. (All Actions)|
This bill has the status Introduced
Here are the steps for Status of Legislation:
- Passed House
- Passed Senate
- To President
- Became Law
Summary: H.R.1123 — 115th Congress (2017-2018)All Information (Except Text)
Introduced in House (02/16/2017)
HBCU Capital Financing Improvement Act
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."
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.
It revises and expands reporting requirements for the HBCU Capital Financing Advisory Board.