{"identifier":"/us/usc/t20/s1066c","title_num":"20","num":"§ 1066c.","heading":"Limitations on Federal insurance for bonds issued by designated bonding authority","status":null,"guid":"idcff2e27b-4aa6-11eb-afbc-da62fdf49fd5","source_credit":"(Pub. L. 89–329, title III, § 344, formerly title VII, § 724, as added Pub. L. 102–325, title VII, § 704, July 23, 1992, 106 Stat. 745; renumbered title III, § 344, Pub. L. 105–244, title III, § 301(a)(3), (4), Oct. 7, 1998, 112 Stat. 1636; Pub. L. 110–315, title III, § 314(c), Aug. 14, 2008, 122 Stat. 3181.)","seq_in_title":455,"parent_identifier":"/us/usc/t20/ch28/schIII/ptD","ancestors":[{"identifier":"/us/usc/t20","level":"title","num":"Title 20—","heading":"EDUCATION","status":null,"is_section":false},{"identifier":"/us/usc/t20/ch28","level":"chapter","num":"CHAPTER 28—","heading":"HIGHER EDUCATION RESOURCES AND STUDENT ASSISTANCE","status":null,"is_section":false},{"identifier":"/us/usc/t20/ch28/schIII","level":"subchapter","num":"SUBCHAPTER III—","heading":"INSTITUTIONAL AID","status":null,"is_section":false},{"identifier":"/us/usc/t20/ch28/schIII/ptD","level":"part","num":"Part D—","heading":"Historically Black College and University Capital Financing","status":null,"is_section":false}],"xml":"<section xmlns=\"http://xml.house.gov/schemas/uslm/1.0\" xmlns:xsi=\"http://www.w3.org/2001/XMLSchema-instance\" xmlns:dc=\"http://purl.org/dc/elements/1.1/\" xmlns:dcterms=\"http://purl.org/dc/terms/\" style=\"-uslm-lc:I80\" id=\"id8138dc6b-3b28-11eb-8459-b1d1037aec5b\" identifier=\"/us/usc/t20/s1066c\"><num value=\"1066c\">§ 1066c.</num><heading> Limitations on Federal insurance for bonds issued by designated bonding authority</heading><subsection style=\"-uslm-lc:I19\" class=\"indent2 firstIndent-2\" id=\"id8138dc6c-3b28-11eb-8459-b1d1037aec5b\" identifier=\"/us/usc/t20/s1066c/a\"><num value=\"a\" class=\"bold\">(a)</num><heading class=\"bold\"> Limit on amount</heading><chapeau style=\"-uslm-lc:I11\" class=\"indent0\">At no time shall the aggregate principal amount of outstanding bonds insured under this part together with any accrued unpaid interest thereon exceed $1,100,000,000, of which—</chapeau><paragraph style=\"-uslm-lc:I12\" class=\"indent1\" id=\"id8138dc6d-3b28-11eb-8459-b1d1037aec5b\" identifier=\"/us/usc/t20/s1066c/a/1\"><num value=\"1\">(1)</num><content> not more than $733,333,333 shall be used for loans to eligible institutions that are private historically Black colleges and universities; and</content>\n</paragraph>\n<paragraph style=\"-uslm-lc:I12\" class=\"indent1\" id=\"id8138dc6e-3b28-11eb-8459-b1d1037aec5b\" identifier=\"/us/usc/t20/s1066c/a/2\"><num value=\"2\">(2)</num><content> not more than $366,666,667 shall be used for loans to eligible institutions which are historically Black public colleges and universities.</content>\n</paragraph>\n\n<continuation style=\"-uslm-lc:I10\" class=\"indent0 firstIndent0\">For purposes of paragraphs (1) and (2), Lincoln University of Pennsylvania is an historically Black public institution. No institution of higher education that has received assistance under <ref href=\"/us/usc/t20/s123\">section 123 of this title</ref> shall be eligible to receive assistance under this part.</continuation>\n</subsection>\n<subsection style=\"-uslm-lc:I19\" class=\"indent2 firstIndent-2\" id=\"id8138dc6f-3b28-11eb-8459-b1d1037aec5b\" identifier=\"/us/usc/t20/s1066c/b\"><num value=\"b\" class=\"bold\">(b)</num><heading class=\"bold\"> Limitation on credit authority</heading><content><p style=\"-uslm-lc:I11\" class=\"indent0\">The authority of the Secretary to issue letters of credit and insurance under this part is effective only to the extent provided in advance by appropriations Acts.</p>\n</content>\n</subsection>\n<subsection style=\"-uslm-lc:I19\" class=\"indent2 firstIndent-2\" id=\"id8138dc70-3b28-11eb-8459-b1d1037aec5b\" identifier=\"/us/usc/t20/s1066c/c\"><num value=\"c\" class=\"bold\">(c)</num><heading class=\"bold\"> Religious activity prohibition</heading><content><p style=\"-uslm-lc:I11\" class=\"indent0\">No loan may be made under this part for any educational program, activity or service related to sectarian instruction or religious worship or provided by a school or department of divinity or to an institution in which a substantial portion of its functions is subsumed in a religious mission.</p>\n</content>\n</subsection>\n<subsection style=\"-uslm-lc:I19\" class=\"indent2 firstIndent-2\" id=\"id8138dc71-3b28-11eb-8459-b1d1037aec5b\" identifier=\"/us/usc/t20/s1066c/d\"><num value=\"d\" class=\"bold\">(d)</num><heading class=\"bold\"> Discrimination prohibition</heading><content><p style=\"-uslm-lc:I11\" class=\"indent0\">No loan may be made to an institution under this part if the institution discriminates on account of race, color, religion, national origin, sex (to the extent provided in title IX of the Education Amendments of 1972 [<ref href=\"/us/usc/t20/s1681\">20 U.S.C. 1681</ref> et seq.]), or disabling condition; except that the prohibition with respect to religion shall not apply to an institution which is controlled by or which is closely identified with the tenets of a particular religious organization if the application of this section would not be consistent with the religious tenets of such organization.</p>\n</content>\n</subsection>\n<sourceCredit id=\"id8138dc72-3b28-11eb-8459-b1d1037aec5b\">(<ref href=\"/us/pl/89/329/tIII/s344\">Pub. L. 89–329, title III, § 344</ref>, formerly title VII, § 724, as added <ref href=\"/us/pl/102/325/tVII/s704\">Pub. L. 102–325, title VII, § 704</ref>, <date date=\"1992-07-23\">July 23, 1992</date>, <ref href=\"/us/stat/106/745\">106 Stat. 745</ref>; renumbered title III, § 344, <ref href=\"/us/pl/105/244/tIII/s301/a/3\">Pub. L. 105–244, title III, § 301(a)(3)</ref>, (4), <date date=\"1998-10-07\">Oct. 7, 1998</date>, <ref href=\"/us/stat/112/1636\">112 Stat. 1636</ref>; <ref href=\"/us/pl/110/315/tIII/s314/c\">Pub. L. 110–315, title III, § 314(c)</ref>, <date date=\"2008-08-14\">Aug. 14, 2008</date>, <ref href=\"/us/stat/122/3181\">122 Stat. 3181</ref>.)</sourceCredit>\n<notes type=\"uscNote\" id=\"id8138dc73-3b28-11eb-8459-b1d1037aec5b\">\n<note style=\"-uslm-lc:I75\" topic=\"referencesInText\" id=\"id8138dc74-3b28-11eb-8459-b1d1037aec5b\">\n<heading class=\"centered smallCaps\">References in Text</heading><p style=\"-uslm-lc:I21\" class=\"indent0\">The Education Amendments of 1972, referred to in subsec. (d), is <ref href=\"/us/pl/92/318\">Pub. L. 92–318</ref>, <date date=\"1972-06-23\">June 23, 1972</date>, <ref href=\"/us/stat/86/235\">86 Stat. 235</ref>, as amended. Title IX of the Act, known as the Patsy Takemoto Mink Equal Opportunity in Education Act, is classified principally to chapter 38 (§ 1681 et seq.) of this title. For complete classification of title IX to the Code, see Short Title note set out under <ref href=\"/us/usc/t20/s1681\">section 1681 of this title</ref> and Tables.</p>\n</note>\n<note style=\"-uslm-lc:I76\" topic=\"codification\" id=\"id8138dc75-3b28-11eb-8459-b1d1037aec5b\"><heading class=\"centered smallCaps\">Codification</heading>\n<p style=\"-uslm-lc:I21\" class=\"indent0\">Section was formerly classified to <ref href=\"/us/usc/t20/s1132c–3\">section 1132c–3 of this title</ref> prior to renumbering by <ref href=\"/us/pl/105/244\">Pub. L. 105–244</ref>.</p>\n</note>\n<note style=\"-uslm-lc:I74\" topic=\"priorProvisions\" id=\"id8138dc76-3b28-11eb-8459-b1d1037aec5b\"><heading class=\"centered smallCaps\">Prior Provisions</heading><p style=\"-uslm-lc:I21\" class=\"indent0\">A prior <ref href=\"/us/pl/89/329/s344\">section 344 of Pub. L. 89–329</ref> was classified to <ref href=\"/us/usc/t20/s1069\">section 1069 of this title</ref> prior to the general amendment of this subchapter by <ref href=\"/us/pl/99/498\">Pub. L. 99–498</ref>.</p>\n</note>\n<note style=\"-uslm-lc:I74\" topic=\"amendments\" id=\"id8138dc77-3b28-11eb-8459-b1d1037aec5b\"><heading class=\"centered smallCaps\">Amendments</heading><p style=\"-uslm-lc:I21\" class=\"indent0\">2008—Subsec. (a). <ref href=\"/us/pl/110/315/s314/c/1\">Pub. L. 110–315, § 314(c)(1)</ref>, substituted “$1,100,000,000” for “$375,000,000” in introductory provisions.</p>\n<p style=\"-uslm-lc:I21\" class=\"indent0\">Subsec. (a)(1). <ref href=\"/us/pl/110/315/s314/c/2\">Pub. L. 110–315, § 314(c)(2)</ref>, substituted “$733,333,333” for “$250,000,000”.</p>\n<p style=\"-uslm-lc:I21\" class=\"indent0\">Subsec. (a)(2). <ref href=\"/us/pl/110/315/s314/c/3\">Pub. L. 110–315, § 314(c)(3)</ref>, substituted “$366,666,667” for “$125,000,000”.</p>\n</note>\n</notes>\n</section>","provision":null,"duplicates":[],"release":{"label":"116-252","currency_date":"2020-12-22","congress":116,"law_num":252,"excluded_laws":[],"update_num":null,"seq":222,"is_partial":false,"caveat":null,"titles_affected":["18","20","31","34","40","42"],"ingested_titles":[]},"served_from":{"label":"116-252","currency_date":"2020-12-22","congress":116,"law_num":252,"excluded_laws":[],"update_num":null,"seq":222,"is_partial":false,"caveat":null,"titles_affected":["18","20","31","34","40","42"],"ingested_titles":[]},"content_first_seen":{"label":"116-214","currency_date":"2020-12-05","congress":116,"law_num":214,"excluded_laws":[],"update_num":null,"seq":218,"is_partial":false,"caveat":null,"titles_affected":["02","09","11a","15","16","18","18a","20","21","22","28a","31","37","38","39","40","41","51","52","54"],"ingested_titles":[]},"is_exact":true,"note":null}