H.R. 5530 — Engrossed in House

114th CONGRESS 2d Session H. R. 5530 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.Clerk.