Page:United States Statutes at Large Volume 101 Part 1.djvu/367

 PUBLIC LAW 100-50—JUNE 3, 1987 1

101 STAT. 337

.. "(2) the recommendations of the panel with respect to such '"'*•' '^ ^>j 0^1 application; and "(3) the reasons for the decision of the Secretary in awarding Grants. l U 'K:> or refusing to award a grant under part A and any modifications, if any, in the recommendations of the panel made by the Secretary.".

SEC. 3. PELL GRANTS. (a) CLARIFICATION OF REFERENCE.—Section 411(g)(2) of the Act is

amended by striking out "paragraph (1)" and inserting "paragraph (I)(B)". (b) EXCLUSION OF FORCED SALE PROCEEDS.—(1) Section 411A of the Act is amended by adding at the end thereof the following new subsection: "(b) EXCLUSION OF FORCED SALE PROCEEDS.—In the computation of family contributions for the program under this subpart for any academic year, there shall be excluded from family income any proceeds of a sale of farm or business assets of that family if such sale results from a voluntary or involuntary foreclosure, forfeiture, or bankruptcy or an involuntary liquidation.". (2) Section 411B(g) of the Act is amended— (A) by striking out "paragraphs (1) through (7)" in the matter preceding paragraph (1) and inserting "paragraphs (1) through (6)"; and (B) by striking out paragraph (7). (3) Section 411C(f) of the Act is amended— (A) by striking out "paragraphs (1) through (7)" in the matter preceding paragraph (1) and inserting "paragraphs (1) through (6)"; and (B) by striking out paragraph (7). (4) Section 411D(f) of the Act is amended by striking out paragraph (5). (c) TREATMENT OF EXCLUDABLE INCOME.—(1) Sections 411B(d)(l)(A), 411C(c)(l)(A), and 411D(c)(l)(A) are each amended by inserting before the semicolon ", less any excludable income (as defined in section 411F(9))". (2) Section 411B(i)(l)(A) of the Act is amended— (A) by striking out "other than amounts earned under part C of this title"; and (B) by inserting before the semicolon ", less any excludable income (as defined in section 411F(9))".

20 USC 1070a.

20 USC 1070a-l.

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20 USC 1070a-2.

20 USC 1070a-3.

20 USC 1070a-4.

20 USC 1070a-6.

(d) EFFECTIVE FAMILY INCOME.—Section 411B(d)(l) of the Act is

amended— (1) by striking out "and" at the end of subparagraph (A); (2) by striking out "minus" at the end of subparagraph (B) and inserting "and"; and (3) by inserting after such subparagraph the following: "(C) one-half of the student's total veterans educational benefits, excluding Veterans' Administration contributory benefits, expected to be received during the award period, minus".

Veterans.

(e) CONTRIBUTION FROM STUDENT'S AND SPOUSE'S ASSETS.—Section

411B(1) of the Act is amended by inserting before the period at the end thereof the following: ", except that in the case of a student who is a dislocated worker (certified in accordance with title III of the Job Training Partnership Act) or a displaced homemaker (as defined 29 USC 1651.

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