 
      CHAPTER 28--HIGHER EDUCATION RESOURCES AND STUDENT ASSISTANCE
 
                    SUBCHAPTER III--INSTITUTIONAL AID
 
   Part D--Historically Black College and University Capital Financing
 
Sec. 1066a. Definitions

    For the purposes of this part:
        (1) The term ``eligible institution'' means a ``part B 
    institution'' as that term is defined in section 1061(2) of this 
    title.
        (2) The term ``loan'' means a loan made to an eligible 
    institution under the provisions of this part and pursuant to an 
    agreement with the Secretary.
        (3) The term ``qualified bond'' means any obligation issued by 
    the designated bonding authority at the direction of the Secretary, 
    the net proceeds of which are loaned to an eligible institution for 
    the purposes described in section 1066b(b) of this title.
        (4) The term ``funding'' means any payment under this part from 
    the Secretary to the eligible institution or its assignee in 
    fulfillment of the insurance obligations of the Secretary pursuant 
    to an agreement under section 1066b of this title.
        (5) The term ``capital project'' means, subject to section 
    1066c(b) of this title the repair, renovation, or, in exceptional 
    circumstances, the construction or acquisition, of--
            (A) any classroom facility, library, laboratory facility, 
        dormitory (including dining facilities) or other facility 
        customarily used by colleges and universities for instructional 
        or research purposes or for housing students, faculty, and 
        staff;
            (B) a facility for the administration of an educational 
        program, or a student center or student union, except that not 
        more than 5 percent of the loan proceeds provided under this 
        part may be used for the facility, center or union if the 
        facility, center or union is owned, leased, managed, or operated 
        by a private business, that, in return for such use, makes a 
        payment to the eligible institution;
            (C) instructional equipment technology,,\1\ research 
        instrumentation, and any capital equipment or fixture related to 
        facilities described in subparagraph (A);
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            (D) a maintenance, storage, or utility facility that is 
        essential to the operation of a facility, a library, a 
        dormitory, equipment, instrumentation, a fixture, real property 
        or an interest therein, described in this paragraph;
            (E) a facility designed to provide primarily outpatient 
        health care for students or faculty;
            (F) physical infrastructure essential to support the 
        projects authorized under this paragraph, including roads, sewer 
        and drainage systems, and water, power, lighting, 
        telecommunications, and other utilities;
            (G) any other facility, equipment or fixture which is 
        essential to the maintaining of accreditation of the member 
        institution by a nationally recognized accrediting agency or 
        association; and
            (H) any real property or interest therein underlying 
        facilities described in subparagraph (A) or (G).

        (6) The term ``interest'' includes accredited value or any other 
    payment constituting interest on an obligation.
        (7) The term ``outstanding'', when used with respect to bonds, 
    shall not include bonds the payment of which shall have been 
    provided for by the irrevocable deposit in trust of obligations 
    maturing as to principal and interest in such amounts and at such 
    times as will ensure the availability of sufficient moneys to make 
    payments on such bonds.
        (8) The term ``designated bonding authority'' means the private, 
    for-profit corporation selected by the Secretary pursuant to section 
    1066d(1) of this title for the purpose of issuing taxable 
    construction bonds in furtherance of the purposes of this part.
        (9) The term ``Advisory Board'' means the Advisory Board 
    established by section 1066f of this title.

(Pub. L. 89-329, title III, Sec. 342, formerly title VII, Sec. 722, as 
added Pub. L. 102-325, title VII, Sec. 704, July 23, 1992, 106 Stat. 
742; renumbered title III, Sec. 342, and amended Pub. L. 105-244, title 
III, Secs. 301(a)(3), (4), (c)(4), 306(a), Oct. 7, 1998, 112 Stat. 1636, 
1637, 1646.)

                          Codification

    Section was formerly classified to section 1132c-1 of this title 
prior to renumbering by Pub. L. 105-244.


                            Prior Provisions

    A prior section 342 of Pub. L. 89-329 was classified to section 1067 
of this title prior to the general amendment of this subchapter by Pub. 
L. 99-498.


                               Amendments

    1998--Par. (3). Pub. L. 105-244, Sec. 301(c)(4)(A), substituted 
``section 1066b(b)'' for ``section 1132c-2(b)''.
    Par. (4). Pub. L. 105-244, Sec. 301(c)(4)(B), substituted ``section 
1066b'' for ``section 1132c-2''.
    Par. (5). Pub. L. 105-244, Sec. 301(c)(4)(C), substituted ``section 
1066c(b)'' for ``section 1132c-3(b)'' in introductory provisions.
    Par. (5)(B). Pub. L. 105-244, Sec. 306(a)(2), added subpar. (B). 
Former subpar. (B) redesignated (C).
    Par. (5)(C). Pub. L. 105-244, Sec. 306(a)(1), (3), redesignated 
subpar. (B) as (C) and inserted ``technology,'' after ``instructional 
equipment''. Former subpar. (C) redesignated (G).
    Par. (5)(D) to (F). Pub. L. 105-244, Sec. 306(a)(4), added subpars. 
(D) to (F). Former subpar. (D) redesignated (H).
    Par. (5)(G). Pub. L. 105-244, Sec. 306(a)(1), redesignated subpar. 
(C) as (G).
    Par. (5)(H). Pub. L. 105-244, Sec. 306(a)(1), (5), redesignated 
subpar. (D) as (H) and substituted ``(G)'' for ``(C)''.
    Par. (8). Pub. L. 105-244, Sec. 301(c)(4)(D), substituted ``section 
1066d(1)'' for ``section 1132c-4(1)''.
    Par. (9). Pub. L. 105-244, Sec. 301(c)(4)(E), substituted ``section 
1066f'' for ``section 1132c-6''.


                    Effective Date of 1998 Amendment

    Amendment by Pub. L. 105-244 effective Oct. 1, 1998, except as 
otherwise provided in Pub. L. 105-244, see section 3 of Pub. L. 105-244, 
set out as a note under section 1001 of this title.
