 CHAPTER 70--STRENGTHENING AND IMPROVEMENT OF ELEMENTARY AND SECONDARY 
                                 SCHOOLS
 
             SUBCHAPTER X--PROGRAMS OF NATIONAL SIGNIFICANCE
 
                     Part C--Public Charter Schools
 
   subpart 2--credit enhancement initiatives to assist charter school 
           facility acquisition, construction, and renovation
 
Sec. 8071c. Charter school objectives

    An eligible entity receiving a grant under this subpart shall use 
the funds deposited in the reserve account established under section 
8071d(a) of this title to assist one or more charter schools to access 
private sector capital to accomplish one or both of the following 
objectives:
        (1) The acquisition (by purchase, lease, donation, or otherwise) 
    of an interest (including an interest held by a third party for the 
    benefit of a charter school) in improved or unimproved real property 
    that is necessary to commence or continue the operation of a charter 
    school.
        (2) The construction of new facilities, or the renovation, 
    repair, or alteration of existing facilities, necessary to commence 
    or continue the operation of a charter school.

(Pub. L. 89-10, title X, Sec. 10324, as added Pub. L. 106-554, 
Sec. 1(a)(1) [title III, Sec. 322(a)(2)], Dec. 21, 2000, 114 Stat. 2763, 
2763A-59.)

                  Section Referred to in Other Sections

    This section is referred to in sections 8071d, 8071f of this title.
