A bill to amend the Higher Education Act of 1965 to modify certain provisions relating to the capital financing of historically Black colleges and universities.
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.
Referred to the House Committee on Education and the Workforce.
Introduced in Senate
Read twice and referred to the Committee on Health, Education, Labor, and Pensions.
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