20 USC 1066f - HBCU Capital Financing Advisory Board

U.S Code last checked for updates: Nov 22, 2024

§ 1066f.

HBCU Capital Financing Advisory Board

(a)

Establishment and purpose

(b)

Board membership

(1)

Composition

The Advisory Board shall be appointed by the Secretary and shall be composed of 11 members as follows:

(A)

The Secretary or the Secretary’s designee.

(B)

Three members who are presidents of private historically Black colleges or universities.

(C)

Three members who are presidents of public historically Black colleges or universities.

(D)

The president of the United Negro College Fund, Inc., or the president’s designee.

(E)

The president of the National Association for Equal Opportunity in Higher Education, or the designee of the Association.

(F)

The executive director of the White House Initiative on historically Black colleges and universities.

(G)

The president of the Thurgood Marshall College Fund, or the designee of the president.

(2)

Terms

The term of office of each member appointed under paragraphs (1)(B) and (1)(C) shall be 3 years, except that—

(A)

of the members first appointed pursuant to paragraphs (1)(B) and (1)(C), 2 shall be appointed for terms of 1 year, and 3 shall be appointed for terms of 2 years;

(B)

members appointed to fill a vacancy occurring before the expiration of a term of a member shall be appointed to serve the remainder of that term; and

(C)

a member may continue to serve after the expiration of a term until a successor is appointed.

(c)

Additional recommendations from Advisory Board

(1)

In general

In addition to the responsibilities of the Advisory Board described in subsection (a), the Advisory Board shall advise the Secretary and the authorizing committees regarding—

(A)

the fiscal status and strategic financial condition of not less than ten historically Black colleges and universities that have—

(i)

obtained construction financing through the program under this part and seek additional financing or refinancing under such program; or

(ii)

applied for construction financing through the program under this part but have not received financing under such program; and

(B)

the feasibility of reducing borrowing costs associated with the program under this part, including reducing interest rates.

(2)

Report

(Pub. L. 89–329, title III, § 347, formerly title VII, § 727, as added Pub. L. 102–325, title VII, § 704, July 23, 1992, 106 Stat. 746; renumbered title III, § 347, and amended Pub. L. 105–244, title III, §§ 301(a)(3), (4), 306(e), Oct. 7, 1998, 112 Stat. 1636, 1647; Pub. L. 110–315, title III, § 314(e), Aug. 14, 2008, 122 Stat. 3182.)

cite as: 20 USC 1066f