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house Bill H.R. 1123

HBCU Capital Financing Improvement Act

bill Progress


  • Not enacted
    The President has not signed this bill
  • The senate has not voted
  • The house has not voted
      house Committees
      Committee on Education and Labor
    IntroducedFebruary 16th, 2017

Bill Details

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Title

HBCU Capital Financing Improvement Act

Official Title

To amend the Higher Education Act of 1965 to modify certain provisions relating to the capital financing of historically Black colleges and universities.

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.

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