HR 1503 102th Congress House Education Black colleges Black history Bonds Federal advisory bodies Federal aid to higher education Investment guaranty insurance Minority business enterprises

Historically Black College and University Capital Financing Act of 1991

Introduced: March 20, 1991 See on congress.gov

Everywhere this bill has been 3 steps

Introduced

In committee

Reported out

Passed House

Passed Senate

To President

Became law

Apr 15, 1991

Referred to the Subcommittee on Postsecondary Education.

Mar 20, 1991

Referred to the House Committee on Education and Labor.

Mar 20, 1991

Introduced in House

Plain-English summary Congressional Research Service

Historically Black College and University Capital Financing Act of 1991 - Authorizes the Secretary of Education (the Secretary) to enter into insurance agreements to provide financial insurance to guarantee full payment of principal and interest on qualified bonds to facilitate capital financing for historically Black colleges and universities (eligible institutions).

Requires the Secretary to designate a qualified bonding authority that agrees to assume specified responsibilities, including using bond proceeds to make loans to eligible institutions for capital projects.

Limits the aggregate principal amount of outstanding bonds insured under this Act together with any accrued unpaid interest thereon. Limits the specified portions of such aggregate amount which may be used for loans to eligible institutions that are, respectively, private or public. (Provides, for such purposes, that Lincoln University of Pennsylvania and Howard University in Washington, D.C., are public institutions.)

Sets forth duties and powers of the Secretary under this Act, including procedures for designation of the bonding authority.

Establishes, within the Department of Education, the Historically Black College and University Capital Financing Advisory Board.

Provides for minority business enterprise utilization under this Act.

What's happening now April 15, 1991

Referred to the Subcommittee on Postsecondary Education.

Committees of jurisdiction 2