Page:United States Statutes at Large Volume 93.djvu/384

 93 STAT. 352

PUBLIC LAW 96-49—AUG. 13, 1979

20 USC 1070b.

(3) Section 413A(b)(l) of the Act ts amended by striking out "1979" and inserting in lieu thereof "1980". 20 USC 1070c. (4) Section 415A(b)(l) of the Act is amended by striking out "1979" and inserting in lieu thereof "1980". 20 USC I070d. (5) Section 417A(b) of the Act is amended by striking out "1979" and inserting in lieu thereof "1980". 20 USC i070d-2. (6) Section 418A(b)(l) of the Act is amended by inserting before the period a comma and the following: "and for the succeeding fiscal year". 20 USC I070e-l. (7)(A) Section 420(a)(1) of the Act is amended by striking out "1979" and inserting in lieu thereof "1980". (B) Section 420(a)(4) of the Act is amended by striking out "1980" and inserting in lieu thereof "1981". 20 USC 1078. (b) Section 428(a)(8) of the Higher Education Act of 1965 is amended by adding at the end thereof the following new subparagraph: "(C) If the Commissioner has not promulgated regulations pursuant to this paragraph on or before September 30, 1979, all eligible lenders (other than those excluded under subparagraph (A)) shall be deemed approved by the Commissioner for purposes of this paragraph.". (c)(1) Section 438(b)(2) of the Act is amended— 20 USC 1087-1. (A) by striking out "(A) Subject to subparagraphs (B) and (C) and" and inserting in lieu thereof "Subject to", and (B) by striking out subparagraphs (B) and (C). Special (2) Notwithstanding any other provision of section 438 of the allowance Higher Education Act of 1965, effective October 1, 1979, the Commispayment. sioner shall determine the special allowance pursuant to the provi20 USC 1087-1 sions of section 438(b)(2) of that Act (as amended by paragraph (1) of note. this subsection), except with respect to eligible loans held during the third quarter of the calendar year 1979, holders of such loans shall be entitled to a special allowance payment increased by the difference between (A) the special allowance determined with respect to such loans for such quarter under section 438(b)(2) prior to the amendments made by paragraph (1) of this subsection, and (B) the amount which would be determined with respect to such loans for such quarter under section 438(b)(2) as amended. 20 USC I087aa. (d)(1) Section 461(b)(1) of the Act is amended by striking out "1979" and inserting in lieu thereof "1980". (2) Section 461(b)(2) of the Act is amended by striking out "1979" each place it appears and inserting in lieu thereof "1980". (3)(A) Part E of title IV of the Higher Education Act of 1965 is amended by adding at the end thereof the following new section: COLLECTION OF DEFAULTED LOANS 20 USC 1087gg.

20 USC 1087cc.

20 USC 1087gg note. 20 USC 1088.

"SEC. 467. The Commissioner is authorized to attempt to collect any loan, which was made under this part and which is in default, referred to him by an institution, with which he has an agreement under subsection (a) of section 463, on behalf of such institution under such terms and conditions as the Commissioner may prescribe, including reimbursement for expenses he may reasonably incur in attempting such collection.". (B) Nothing in the amendment made by this paragraph shall be construed to authorize the enactment of new budget authority for fiscal years 1979 or 1980. (e)(1) Section 4910b)(l) of the Act is amended by striking out "and any proprietary institution of higher education" and inserting in lieu

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