summary
Introduced
02/16/2017
02/16/2017
In Committee
02/16/2017
02/16/2017
Crossed Over
Passed
Dead
12/31/2018
12/31/2018
Introduced Session
115th Congress
Bill Summary
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.
AI Summary
This bill, the HBCU Capital Financing Improvement Act, amends the Higher Education Act of 1965 to modify the HBCU Capital Financing Program, which provides low-cost private loans to historically Black colleges and universities (HBCUs) for infrastructure repairs, maintenance, and construction. The bill replaces references to "escrow account" with "bond insurance fund," authorizes the Department of Education to provide financial counseling to help HBCUs qualify for and maintain capital improvement loans, and revises and expands reporting requirements for the HBCU Capital Financing Advisory Board, which must now include an overview of all loans in the program and provide recommendations to address construction financing issues facing HBCUs.
Committee Categories
Education
Sponsors (6)
Alma Adams (D)*,
Bradley Byrne (R),
Steve Cohen (D),
French Hill (R),
David Price (D),
Terri Sewell (D),
Last Action
Referred to the House Committee on Education and the Workforce. (on 02/16/2017)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.congress.gov/bill/115th-congress/house-bill/1123/all-info |
| BillText | https://www.congress.gov/115/bills/hr1123/BILLS-115hr1123ih.pdf |
| Bill | https://www.congress.gov/115/bills/hr1123/BILLS-115hr1123ih.pdf.pdf |
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