Page:United States Statutes at Large Volume 98 Part 1.djvu/975

 PUBLIC LAW 98-369—JULY 18, 1984

98 STAT. 927

"(A) limitations are imposed under the program on— "(i) the maximum amount of loans outstanding to any student, and "(ii) the maximum rate of interest payable on any loan, "(B) the loans are directly or indirectly guaranteed by the Federal Government, . F "(C) the financing of loans under the program is not limited by Federal law to the proceeds of obligations the interest on which is exempt from taxation under this title, and "(D) special allowance payments under section 438 of the Higher Education Act of 1965— 20 USC 1087-1. "(i) are authorized to be paid with respect to loans made under the program, or "(ii) would be authorized to be made with respect to loans under the program if such loans were not financed with the proceeds of obligations the interest on which is exempt from taxation under this title. Such term shall not include any obligation issued under a State program which discriminates on the basis of the location (in the United States) at which the educational institution is located." (b) EFFECTIVE DATES.— 26 USC 103 note. (1) IN GENERAL.—Except as otherwise provided in this subsection the amendment made by subsection (a) shall apply to obligations issued after the date of enactment of this Act. (2) EXCEPTIONS FOR CERTAIN STUDENT LOAN PROGRAMS.—

(A) IN GENERAL.—The amendments made by this section shall not apply to obligations issued by a program described in the following table to the extent the aggregate face amount of such obligations does not exceed the amount of allowable obligations specified in the following table with respect to such program: Amount of Allowable Obligations

Program Colorado Student Obligation Bond Authority Connecticut Higher Education Supplementary Loan Authority. District of Columbia ,. Illinois Higher Education Authority State of Iowa Louisiana Public Facilities Authority Maine Health and Higher Education Facilities Authority... Maryland Higher Education Supplemental Loan Program.. Massachusetts College Student Loan Authority Minnesota Higher Education Coordinating Board New Hampshire Higher Education and Health Facilities Authority. New York Dormitory Authority Pennsylvania Higher Education Assistance Agency Georgia Private Colleges and University Authority Wisconsin State Building Commission South Dakota Health and Educational Facilities Authority. (B)

PENNSYLVANIA

HIGHER

EDUCATION

$60 million $15.5 million $50 million $11 million $16 million $75 million $5 million $24 million $90 million $60 million $39 million $120 million $300 million $31 million $60 million $6 million ASSISTANCE

AGENCY.—Subparagraph (A) shall apply to obligations

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