Page:United States Statutes at Large Volume 107 Part 3.djvu/537

 PUBLIC LAW 103-208—DEC. 20, 1993 107 STAT. 2475 real estate, inventories, buildings, machinery, and other equipment, patents, franchise rights, and copjrrights.". (h) AMENDMENTS TO PART G OP TITLE IV OF THE ACJT,—Part G of title IV of the Act (20 U.S.C. 1088 et seq.) is amended— (1) in section 481(a)(3)(B), by inserting before the semicolon 20 USC 1088. the following: ", except that the Secretary, at the request of such institution, may waive the applicability of this subparagraph to such institution for good cause, as determined by the Secretary in the case of an institution of higher education that provides a 2-year or 4-year program of instruction for which the institution awards an associate or baccalaureate decrree"' (2) in section 481(a)(3)(D)— (A) by striking "are admitted pursuant to section 484(dr and inserting "do not have a high school diploma or its recognized equivalent"; and (B) by inserting before the period the following: ", except that the Secretary may waive the limitation contsdned in this subparagraph if a nonprofit institution demonstrates to the satisfaction of the Secretary that it exceeds such limitation because it serves, through contracts with Federal, State, or local government agencies, significant numbers of students who do not have a high school diploma or its recognized equivsQent"; (3) in section 481(a)(4), by amending subparagraph (A) to read as follows: "(A) the institution, or an affiliate of the institution that has the power, by contract or ownership interest, to direct or cause the direction of the management or policies of the institution, has filed for bankruptcy; or"; (4) in section 481(d), by amending paragraph (2) to read as follows: "(2) For the purpose of any program under this title, the term 'academic year* shall require a minimum of 30 weeks of instructional time, and, with respect to an undergraduate course of study, shall require that during such minimum period of instructional time a full-time student is expected to complete at least 24 semester or trimester hours or 36 quarter hours at an institution that measures program length in credit hours, or at least 900 clock hours at an institution that measures program length in clock hours. The Secretary may reduce such minimum of 30 weeks to not less than 26 weeks for good cause, as determined by the Secretary on a case-by-case basis, in the case of an institution of higher education that provides a 2-year or 4-year program of instruction for which the institution awards an associate or baccalaureate degree."; (5) in section 481(e) by striking paragraph (2) and inserting the following: ''(2)(A) A program is an eligible program for purposes of part B of this title if it is a program of at least 300 clock hours of instruction, but less than 600 clock hours of instruction, offered during a minimum of 10 weeks, that— "(i) has a verified completion rate of at least 70 percent, as determined in accordance with the regulations of the Secretary;

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