Page:United States Statutes at Large Volume 112 Part 2.djvu/762

 112 STAT. 1646 PUBLIC LAW 105-244 —OCT. 7, 1998 grant amounts to all such institutions and programs, or the institution cannot provide sufficient matching funds to meet the requirements of this section.", SEC. 305. ENDOWMENT CHALLENGE GRANTS. Section 331(b) (20 U.S.C. 1065(b)) is amended— (1) in paragraph (1), by striking "360" and inserting "399"; and (2) in paragraph (2), by striking subparagraphs (B) and (C) and inserting the following: "(B) The Secretary may make a grant under this part to an eligible institution in any fiscal year if the institution— "(i) applies for a grant in an amount not exceeding $500,000; and "(ii) has deposited in the eligible institution's endowment fund established under this section an amount which is equal to VQ. of the amount of such grant. "(C) An eligible institution of higher education that is awarded a grant under subparagraph (B) shall not be eligible to receive an additional grant under subparagraph (B) until 10 years after the date on which the grant period terminates.". SEC. 306. HBCU CAPITAL FINANCING. 20 USC 1066a. (a) DEFINITION. —Section 342(5) (as redesignated by section 301(a)(4)) (20 U.S.C. 1132c-l(5)) is amended— (1) by redesignating subparagraphs (B), (C), and (D) as subparagraphs (C), (G), and (H), respectively; (2) by inserting after subparagraph (A) the following: "(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;"; (3) in subparagraph (C) (as redesignated by paragraph (1)), insert "technology, after "instructional equipment"; (4) by inserting after subparagraph (C) (as redesignated by paragraph (1)) the following: "(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;"; and (5) in subparagraph (H) (as redesignated by paragraph (2)), by striking "(C)" and inserting "(G)". 20 USC 1066b. (b) RESPONSIBILITIES.— Section 343 (as redesignated by section 301(a)(4)) (20 U.S.C. 1132c-2) is amended— (1) in subsection (b)(8) (as redesignated by section 301(a)(4)) (20 U.S.C. 1132c-2(b)(8)), by striking "10 percent" each place the term appears and inserting "5 percent"; and (2) by adding at the end the following:

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