H.R. 5530
Referred to CommitteeHBCU Capital Financing Improvement Act
Latest Action
Received in the Senate and Read twice and referred to the Committee on Health, Education, Labor, and Pensions.
7/12/2016 • Senate
Summary
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.
Passed House amended • 7/11/2016
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Bill Journey
Originated in the House
Introduced
June 20, 2016
Committee Review
June 22, 2016
Ordered to be Reported (Amended) by Voice Vote.
Floor Debate
July 11, 2016
Passed Chamber
July 11, 2016
Other Chamber
President
Enacted into Law