HBCU Capital Financing Improvement Act

Bill: 114-hr-5530
Sponsor: Rep. Adams, Alma S. [D-NC-12]
Introduced: 2016-06-20 in the House
Policy area: Education
Subjects: Education programs funding
Government lending and loan guarantees
Higher education
Minority education
Securities

Summary:
action_date: 2016-06-20
text: 

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.
 
Finally, it revises and expands reporting requirements for the HBCU Capital Financing Advisory Board.

action_date: 2016-07-11
text: 

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.


Legislative actions:
action_date: 2016-07-12
text: Received in the Senate and Read twice and referred to the Committee on Health, Education, Labor, and Pensions.
action_date: 2016-07-11
text: Motion to reconsider laid on the table Agreed to without objection.
action_date: 2016-07-11
text: On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote. (text: CR H4606)
action_date: 2016-07-11
text: Passed/agreed to in House: On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote.(text: CR H4606)
action_date: 2016-07-11
text: DEBATE - The House proceeded with forty minutes of debate on H.R. 5530.
action_date: 2016-07-11
text: Considered under suspension of the rules. (consideration: CR H4606-4607)
action_date: 2016-07-11
text: Mr. Byrne moved to suspend the rules and pass the bill, as amended.
action_date: 2016-07-11
text: Placed on the Union Calendar, Calendar No. 525.
action_date: 2016-07-11
text: Reported (Amended) by the Committee on Education and the Workforce. H. Rept. 114-677.
action_date: 2016-07-11
text: Reported (Amended) by the Committee on Education and the Workforce. H. Rept. 114-677.
action_date: 2016-06-22
text: Ordered to be Reported (Amended) by Voice Vote.
action_date: 2016-06-22
text: Committee Consideration and Mark-up Session Held.
action_date: 2016-06-20
text: Referred to the House Committee on Education and the Workforce.
action_date: 2016-06-20
text: Introduced in House
action_date: 2016-06-20
text: Introduced in House