Page:United States Statutes at Large Volume 114 Part 5.djvu/89

 PUBLIC LAW 106-554—APPENDIX A 114 STAT. 2763A-49 used to supplement, and not supplant, non-Federal funds expended for student support services programs.", (b) The amendments made by subsection (a) shall apply with respect to student support services grants awarded on or after the date of enactment of this Act. SEC. 318. (a) Subparagraph (B) of section 427A(c)(4) of the Higher Education Act of 1965 (20 U.S.C. 1077a(c)(4)) is amended to read as follows: "(B)(i) For any 12-month period beginning on July 1 and ending on or before June 30, 2001, the rate determined under this subparagraph is determined on the preceding June 1 and is equal to— "(I) the bond equivalent rate of 52-week Treasury bills auctioned at the final auction held prior to such June 1; plus "(11) 3.25 percent. "(ii) For any 12-month period beginning on July 1 of 2001 or any succeeding year, the rate determined under this subparagraph is determined on the preceding June 26 and is equal to— "(I) the weekly average 1-year constant maturity Treasury yield, as published by the Board of Governors of the Federal Reserve System, for the last calendar week ending on or before such June 26; plus "(II) 3.25 percent.", (b) Subparagraph (A) of section 455(b)(4) of such Act (20 U.S.C. 1087e(b)(4)) is amended to read as follows: "(A)(i) For Federal Direct PLUS Loans for which the first disbursement is made on or after July 1, 1994, the applicable rate of interest shall, during any 12-month period beginning on July 1 and ending on or before June 30, 2001, be determined on the preceding June 1 and be equal to— "(I) the bond equivalent rate of 52-week Treasury bills auctioned at final auction held prior to such June 1; plus " (II) 3.1 percent, except that such rate shall not exceed 9 percent. "(ii) For any 12-month period beginning on July 1 of 2001 or any succeeding year, the applicable rate of interest determined under this subparagraph shall be determined on the preceding June 26 and be equal to— "(I) the weekly average 1-year constant maturity Treasury yield, as published by the Board of Governors of the Federal Reserve System, for the last calendar week ending on or before such June 26; plus " (II) 3.1 percent, except that such rate shall not exceed 9 percent.". SEC. 319. Section 1543 of the Higher Education Amendments of 1992 (20 U.S.C. 1070 note) is amended by adding at the end the following new subsection: "(e) DESIGNATION. —Scholarships awarded under this section shall be known as 'B.J. Stupak Olympic Scholarships'.". SEC. 320. (a) Subject to subsection (c), the Secretary of Education shall release the reversionary interests that were retained by the United States, as part of the conveyance of certain real property situated in the County of Marin, State of California, in

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