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US S2268

US S2268
HBCU Capital Financing Improvement Act


summary

Introduced
12/21/2017
In Committee
12/21/2017
Crossed Over
Passed
Dead
12/31/2018

Introduced Session

115th Congress

Bill Summary

HBCU Capital Financing Improvement Act This bill amends the Higher Education Act of 1965 to modify the HBCU Capital Financing Program, which 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 amends the Higher Education Act of 1965 to modify the HBCU (Historically Black Colleges and Universities) Capital Financing Program. It replaces references to "escrow account" with "bond insurance fund" and authorizes the Department of Education to provide financial counseling to help eligible HBCUs qualify for, apply for, and maintain capital improvement loans. The bill also revises and expands the reporting requirements for the HBCU Capital Financing Advisory Board, including requiring an annual report on the status of HBCUs in the capital financing program and any administrative or legislative recommendations for addressing construction financing issues facing HBCUs.

Committee Categories

Health and Social Services

Sponsors (7)

Last Action

Read twice and referred to the Committee on Health, Education, Labor, and Pensions. (on 12/21/2017)

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