SUBCHAPTER VIII—MISCELLANEOUS
§1151. Repealed. Pub. L. 113–128, title V, §511(b), July 22, 2014, 128 Stat. 1705
Section,
Statutory Notes and Related Subsidiaries
Effective Date of Repeal
Repeal effective on the first day of the first full program year after July 22, 2014 (July 1, 2015), see section 506 of
§1152. Repealed. Pub. L. 109–162, title III, §304(f), Jan. 5, 2006, 119 Stat. 3016
Section,
Statutory Notes and Related Subsidiaries
Effective Date of Repeal
Repeal effective beginning fiscal year 2007, see section 4 of
§1153. Underground Railroad educational and cultural program
(a) Program established
The Secretary of Education, in consultation and cooperation with the Secretary of the Interior, is authorized to make grants to 1 or more nonprofit educational organizations that are established to research, display, interpret, and collect artifacts relating to the history of the Underground Railroad, including the lessons to be drawn from such history.
(b) Grant agreement
Each nonprofit educational organization awarded a grant under this section shall enter into an agreement with the Secretary of Education. Each such agreement shall require the organization—
(1) to establish a facility to—
(A) house, display, interpret, and communicate information regarding the artifacts and other materials related to the history of the Underground Railroad, including the lessons to be drawn from such history;
(B) maintain such artifacts and materials; and
(C) make the efforts described in subparagraph (A) available, including through electronic means, to elementary and secondary schools, institutions of higher education, and the general public;
(2) to demonstrate substantial public and private support for the operation of the facility through the implementation of a public-private partnership between one or more State or local public entities and one or more private entities, which public-private partnership shall provide matching funds from non-federal sources for the support of the facility in an amount equal to or greater than four times the amount of the grant awarded under this section;
(3) to create an endowment to fund any and all shortfalls in the costs of the on-going operations of the facility;
(4) to establish and maintain a network of satellite centers throughout the United States to help disseminate information regarding the Underground Railroad throughout the United States, including the lessons to be drawn from the history of the Underground Railroad, if such satellite centers raise 80 percent of the funds required to establish and maintain the satellite centers from non-Federal public and private sources;
(5) to establish and maintain the capability to electronically link the facility with other local and regional facilities that have collections and programs which interpret the history of the Underground Railroad, including the lessons to be drawn from such history; and
(6) to submit, for each fiscal year for which the organization receives funding under this section, a report to the Secretary of Education that contains—
(A) a description of the programs and activities supported by the funding;
(B) the audited financial statement of the organization for the preceding fiscal year;
(C) a plan for the programs and activities to be supported by the funding as the Secretary may require; and
(D) an evaluation of the programs and activities supported by the funding as the Secretary may require.
(c) Authorization of appropriations
There are authorized to be appropriated to carry out this section $3,000,000 for fiscal year 2009 and each of the five succeeding fiscal years.
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Editorial Notes
Codification
Section was enacted as part of the Higher Education Amendments of 1998, and not as part of the Higher Education Act of 1965 which comprises this chapter.
Amendments
2009—Subsec. (c).
2008—Subsec. (a).
Subsec. (b)(1), (2).
"(1) to establish a facility to house, display, and interpret the artifacts related to the history of the Underground Railroad, and to make the interpretive efforts available to institutions of higher education that award a baccalaureate or graduate degree;
"(2) to demonstrate substantial private support for the facility through the implementation of a public-private partnership between a State or local public entity and a private entity for the support of the facility, which private entity shall provide matching funds for the support of the facility in an amount equal to 4 times the amount of the contribution of the State or local public entity, except that not more than 20 percent of the matching funds may be provided by the Federal Government;".
Subsec. (b)(4).
Subsec. (b)(5).
Subsec. (c).
Statutory Notes and Related Subsidiaries
Effective Date of 2009 Amendment
Amendment by
§1154. Contract authority
The authorization to enter into contracts or other obligations under the Act, as amended by this Act, shall be effective for fiscal year 1981 and any succeeding fiscal year only to the extent or in such amounts as are provided in advance in appropriation Acts.
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Editorial Notes
References in Text
The Act, as amended by this Act, referred to in text, means the Higher Education Act of 1965,
Codification
Section was formerly classified to
Section was enacted as part of the Education Amendments of 1980, and not as part of the Higher Education Act of 1965 which comprises this chapter.
Section was enacted as part of the Higher Education Amendments of 1986, and not as part of the Higher Education Act of 1965 which comprises this chapter.
Statutory Notes and Related Subsidiaries
Effective Date
Section effective Oct. 1, 1980, see section 1393(a) of
Contracting Authority Subject To Appropriations
§1155. Connie Lee privatization
(a) Status of Corporation and corporate powers; obligations not federally guaranteed
(1) Status of the Corporation
The Corporation shall not be an agency, instrumentality, or establishment of the United States Government, nor a Government corporation, nor a Government controlled corporation, as such terms are defined in
(2) Corporate powers
The Corporation shall be subject to the provisions of this section, and, to the extent not inconsistent with this section, to the District of Columbia Business Corporation Act (or the comparable law of another State, if applicable). The Corporation shall have the powers conferred upon a corporation by the District of Columbia Business Corporation Act (or such other applicable State law) as from time to time in effect in order to conduct the Corporation's affairs as a private, for-profit corporation and to carry out the Corporation's purposes and activities incidental thereto. The Corporation shall have the power to enter into contracts, to execute instruments, to incur liabilities, to provide products and services, and to do all things as are necessary or incidental to the proper management of the Corporation's affairs and the efficient operation of a private, for-profit business.
(3) Limitation on ownership of stock
(A) Student Loan Marketing Association
The Student Loan Marketing Association shall not increase its share of the ownership of the Corporation in excess of 42 percent of the shares of stock of the Corporation outstanding on September 30, 1996. The Student Loan Marketing Association shall not control the operation of the Corporation, except that the Student Loan Marketing Association may participate in the election of directors as a shareholder, and may continue to exercise the Student Loan Marketing Association's right to appoint directors under
(B) Prohibition
Until such time as the Secretary of the Treasury sells the stock of the Corporation owned by the Secretary of Education pursuant to subsection (c), the Student Loan Marketing Association shall not provide financial support or guarantees to the Corporation.
(C) Financial support or guarantees
After the Secretary of the Treasury sells the stock of the Corporation owned by the Secretary of Education pursuant to subsection (c), the Student Loan Marketing Association may provide financial support or guarantees to the Corporation, if such support or guarantees are subject to terms and conditions that are no more advantageous to the Corporation than the terms and conditions the Student Loan Marketing Association provides to other entities, including, where applicable, other monoline financial guaranty corporations in which the Student Loan Marketing Association has no ownership interest.
(4) No Federal guarantee
(A) Obligations insured by the Corporation
(i) Full faith and credit of the United States
No obligation that is insured, guaranteed, or otherwise backed by the Corporation shall be deemed to be an obligation that is guaranteed by the full faith and credit of the United States.
(ii) Student Loan Marketing Association
No obligation that is insured, guaranteed, or otherwise backed by the Corporation shall be deemed to be an obligation that is guaranteed by the Student Loan Marketing Association.
(iii) Special rule
This paragraph shall not affect the determination of whether such obligation is guaranteed for purposes of Federal income taxes.
(B) Securities offered by the Corporation
No debt or equity securities of the Corporation shall be deemed to be guaranteed by the full faith and credit of the United States.
(5) "Corporation" defined
The term "Corporation" as used in this section means the College Construction Loan Insurance Association as in existence on the day before September 30, 1996, and any successor corporation.
(b) Related privatization requirements
(1) Notice requirements
(A) In general
During the six-year period following September 30, 1996, the Corporation shall include, in each of the Corporation's contracts for the insurance, guarantee, or reinsurance of obligations, and in each document offering debt or equity securities of the Corporation, a prominent statement providing notice that—
(i) such obligations or such securities, as the case may be, are not obligations of the United States, nor are such obligations or such securities, as the case may be, guaranteed in any way by the full faith and credit of the United States; and
(ii) the Corporation is not an instrumentality of the United States.
(B) Additional notice
During the five-year period following the sale of stock pursuant to subsection (c)(1), in addition to the notice requirements in subparagraph (A), the Corporation shall include, in each of the contracts and documents referred to in such subparagraph, a prominent statement providing notice that the United States is not an investor in the Corporation.
(2) Corporate charter
The Corporation's charter shall be amended as necessary and without delay to conform to the requirements of this section.
(3) Corporate name
The name of the Corporation, or of any direct or indirect subsidiary thereof, may not contain the term "College Construction Loan Insurance Association", or any substantially similar variation thereof.
(4) Articles of incorporation
The Corporation shall amend the Corporation's articles of incorporation without delay to reflect that one of the purposes of the Corporation shall be to guarantee, insure, and reinsure bonds, leases, and other evidences of debt of educational institutions, including Historically Black Colleges and Universities and other academic institutions which are ranked in the lower investment grade category using a nationally recognized credit rating system.
(5) Requirements until stock sale
Notwithstanding subsection (d), the requirements of
(c) Sale of federally owned stock
(1) Purchase by the Corporation
The Secretary of the Treasury shall sell and the Corporation shall purchase, within 90 days after September 30, 1996, the stock of the Corporation held by the Secretary of Education at a price determined by the binding, independent appraisal of a nationally recognized financial firm, except that the 90-day period may be extended by mutual agreement of the Secretary of the Treasury and the Corporation to not more than 150 days after September 30, 1996. The appraiser shall be jointly selected by the Secretary of the Treasury and the Corporation. In the event that the Secretary of the Treasury and the Corporation cannot agree on the appraiser, then the Secretary of the Treasury and the Corporation shall name an independent third party to select the appraiser.
(2) Reimbursement of costs and expenses of sale
The Secretary of the Treasury shall be reimbursed from the proceeds of the sale of the stock under this subsection for all reasonable costs and expenses related to such sale, except that one-half of all reasonable costs and expenses relating to the independent appraisal under paragraph (1) shall be borne by the Corporation.
(3) Deposit into account
Amounts collected from the sale of stock pursuant to this subsection that are not used to reimburse the Secretary of the Treasury pursuant to paragraph (2) shall be deposited into the account established under subsection (e).
(4) Assistance by the Corporation
The Corporation shall provide such assistance as the Secretary of the Treasury and the Secretary of Education may require to facilitate the sale of the stock under this subsection.
(5) Report to Congress
Not later than 6 months after September 30, 1996, the Secretary of the Treasury shall report to the appropriate committees of Congress on the completion and terms of the sale of stock of the Corporation pursuant to this subsection.
(d) Omitted
(e) Establishment of account
(1) In general
Notwithstanding any other provision of law, the District of Columbia Financial Responsibility and Management Assistance Authority shall establish an account to receive—
(A) amounts collected from the sale and proceeds resulting from the exercise of stock warrants pursuant to
(B) amounts and proceeds remitted as compensation for the right to assign the "Sallie Mae" name as a trademark or service mark pursuant to
(C) amounts and proceeds collected from the sale of the stock of the Corporation and deposited pursuant to subsection (c)(3).
(2) Amounts and proceeds
(A) Amounts and proceeds relating to Sallie Mae
The amounts and proceeds described in subparagraphs (A) and (B) of paragraph (1) shall be used to finance public elementary and secondary school facility construction and repair within the District of Columbia or to carry out the District of Columbia School Reform Act of 1995.
(B) Amounts and proceeds relating to Connie Lee
The amounts and proceeds described in subparagraph (C) of paragraph (1) shall be used to finance public and public charter elementary and secondary school facility construction and repair within the District of Columbia. Of such amounts and proceeds, $5,000,000 shall be set aside for a credit enhancement revolving fund for public charter schools in the District of Columbia, to be administered and disbursed in accordance with paragraph (3).
(3) Credit enhancement revolving fund for public charter schools
(A) Distribution of amounts
Of the amounts in the credit enhancement revolving fund established under paragraph (2)(B)—
(i) 50 percent shall be used to make grants under subparagraph (B); and
(ii) 50 percent shall be used to make grants under subparagraph (C).
(B) Grants to eligible nonprofit corporations
(i) In general
Using the amounts described in subparagraph (A)(i), the Mayor of the District of Columbia shall make and disburse grants to eligible nonprofit corporations to carry out the purposes described in subparagraph (E).
(ii) Administration
Subject to subparagraph (F), the Mayor shall administer the program of grants under this subparagraph, except that if the committee described in subparagraph (C)(iii) is in operation and is fully functional prior to the date the Mayor makes the grants, the Mayor may delegate the administration of the program to the committee.
(C) Other grants
(i) In general
Using the amounts described in subparagraph (A)(ii), the Mayor of the District of Columbia shall make grants to entities to carry out the purposes described in subparagraph (E).
(ii) Participation of schools
A public charter school in the District of Columbia may receive a grant under this subparagraph to carry out the purposes described in subparagraph (E) in the same manner as other entities receiving grants to carry out such activities.
(iii) Administration through committee
Subject to subparagraph (F), the Mayor shall carry out this subparagraph through the committee appointed by the Mayor under the second sentence of paragraph (2)(B) (as in effect prior to November 22, 2000). The committee may enter into an agreement with a third party to carry out its responsibilities under this subparagraph.
(iv) Cap on administrative costs
Not more than 5 percent of the funds available for grants under this subparagraph for a fiscal year may be used to cover the administrative costs of making grants under this subparagraph for the fiscal year.
(D) Special rule regarding eligibility of nonprofit corporations
In order to be eligible to receive a grant under this paragraph, a nonprofit corporation must provide appropriate certification to the Mayor or to the committee described in subparagraph (C)(iii) (as the case may be) that it is duly authorized by two or more public charter schools in the District of Columbia to act on their behalf in obtaining financing (or in assisting them in obtaining financing) to cover the costs of activities described in subparagraph (E)(i).
(E) Purposes of grants
(i) In general
The recipient of a grant under this paragraph shall use the funds provided under the grant to carry out activities to assist public charter schools in the District of Columbia in—
(I) obtaining financing to acquire interests in real property (including by purchase, lease, or donation), including financing to cover planning, development, and other incidental costs;
(II) obtaining financing for construction of facilities or the renovation, repair, or alteration of existing property or facilities (including the purchase or replacement of fixtures and equipment), including financing to cover planning, development, and other incidental costs;
(III) enhancing the availability of loans (including mortgages) and bonds; and
(IV) obtaining lease guarantees (in accordance with regulations promulgated by the Office of Public Charter School Financing).
(ii) No direct funding for schools
Funds provided under a grant under this subparagraph may not be used by a recipient to make direct loans or grants to public charter schools.
(F) Role of Office of Public Charter School Financing and Support
During fiscal year 2003 and each succeeding fiscal year, the Office of Public Charter School Financing and Support shall be responsible for receiving applications, making payments, and otherwise administering this paragraph, except that no grant may be made under this paragraph without the approval of the committee described in subparagraph (C)(iii).
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Editorial Notes
References in Text
The District of Columbia Business Corporation Act, referred to in subsec. (a)(2), is act June 8, 1954, ch. 269,
The District of Columbia School Reform Act of 1995, referred to in subsec. (e)(2)(A), is
Codification
Section was formerly classified to
Section enacted as part of the Student Loan Marketing Association Reorganization Act of 1996, and not as part of the Higher Education Act of 1965 which comprises this chapter.
Section is comprised of section 101(e) [title VI, §603] of div. A of
Amendments
2004—Subsec. (e)(3)(C)(iv).
Subsec. (e)(3)(E)(i)(IV).
2003—Subsec. (e)(3)(B)(ii), (C)(iii).
Subsec. (e)(3)(F).
2001—Subsec. (e)(2)(B).
Subsec. (e)(3).
Subsec. (e)(3)(C)(iv).
2000—Subsec. (e)(2)(B).
Subsec. (e)(3).
1999—Subsec. (e)(2)(B).
Statutory Notes and Related Subsidiaries
Effective Date of 2004 Amendment
Effective Date of 2001 Amendment
Effective Date and Construction of 2000 Amendment
"(a) The provisions of H.R. 5547 (as enacted into law by H.R. 4942 of the 106th Congress) [H.R. 5547 as enacted by section 1(a)(1) of
"(b) The repeal made by this section shall take effect as if included in H.R. 4942 of the 106th Congress [