HBCU Capital Financing Improvement Act

Bill: 114-hr-5530
Sponsor: full_name: Rep. Adams, Alma S. [D-NC-12]
Introduced: 2016-06-20
Policy area: Education
Subjects: Education programs funding

Government lending and loan guarantees

Higher education

Minority education

Securities
Latest action: action_date: 2016-07-12
text: Received in the Senate and Read twice and referred to the Committee on Health, Education, Labor, and Pensions.

Summaries:
action_date: 2016-06-20
action_desc: Introduced in House
text: <p><b>HBCU Capital Financing Improvement Act</b></p> <p>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.]</p> <p>It replaces statutory references to "escrow account" with "bond insurance fund."</p> <p>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.</p> <p>Finally, it revises and expands reporting requirements for the HBCU Capital Financing Advisory Board.</p>

action_date: 2016-07-11
action_desc: Passed House amended
text: <p><b>HBCU Capital Financing Improvement Act</b></p> <p>(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.]</p> <p>It replaces statutory references to "escrow account" with "bond insurance fund."</p> <p>(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.</p> <p>(Sec. 4) It revises and expands reporting requirements for the HBCU Capital Financing Advisory Board.</p>

tv_txt: I 114th CONGRESS 2d Session H. R. 5530 IN THE HOUSE OF REPRESENTATIVES June 20, 2016 Ms. Adams (for herself and Mr. Byrne ) 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.

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

tv_txt: I 114th CONGRESS 2d Session H. R. 5530 IN THE HOUSE OF REPRESENTATIVES AN ACT 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. .

Passed the House of Representatives July 11, 2016. Karen L. Haas, Clerk.

tv_txt: IIB 114th CONGRESS 2d Session H. R. 5530 IN THE SENATE OF THE UNITED STATES July 12, 2016 Received; read twice and referred to the Committee on Health, Education, Labor, and Pensions AN ACT 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. .

Passed the House of Representatives July 11, 2016. Karen L. Haas, Clerk

tv_txt: IB Union Calendar No. 525 114th CONGRESS 2d Session H. R. 5530 [Report No. 114–677] IN THE HOUSE OF REPRESENTATIVES June 20, 2016 Ms. Adams (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