HBCU Capital Finance Debt Relief Act

I 116TH CONGRESS 2D SESSION H. R. 7380 To cancel the obligation of historically black colleges and universities to repay certain capital financing loans, and for other purposes. IN THE HOUSE OF REPRESENTATIVES JUNE 26, 2020 Ms. ADAMS (for herself, Ms. JOHNSON of Texas, Ms. SEWELL of Alabama, Mr. COOPER, Mr. THOMPSON of Mississippi, Mr. CARSON of Indiana, Ms. LEE of California, Mr. BISHOP of Georgia, Mr. HASTINGS, Mr. CLAY, and Ms. NORTON) introduced the following bill; which was referred to the Committee on Education and Labor A BILL To cancel the obligation of historically black colleges and universities to repay certain capital financing loans, and for other purposes. Be it enacted by the Senate and House of Representa- 1 tives of the United States of America in Congress assembled, 2 SECTION 1. SHORT TITLE. 3 This Act may be cited as the ‘‘HBCU Capital Fi- 4 nance Debt Relief Act’’. 5 VerDate Sep 11 2014 21:50 Jul 20, 2020 Jkt 099200 PO 00000 Frm 00001 Fmt 6652 Sfmt 6201 E:\BILLS\H7380.IH H7380 pbinns on DSKJLVW7X2PROD with BILLS 2 •HR 7380 IH SEC. 2. CANCELLATION OF DEBT UNDER HBCU CAPITAL FI- 1 NANCING PROGRAM. 2 Not later than 30 days after the date of the enact- 3 ment of this Act, the Secretary of Education shall cancel 4 the obligation of each eligible institution (as defined in sec- 5 tion 342 of the Higher Education Act of 1965 (20 U.S.C. 6 1066a)) to repay the balance of interest and principal due 7 on each loan made under part D of title III of the Higher 8 Education Act of 1965 (20 U.S.C. 1066 et seq.) before 9 the date of the enactment of this Act. 10 Æ VerDate Sep 11 2014 21:50 Jul 20, 2020 Jkt 099200 PO 00000 Frm 00002 Fmt 6652 Sfmt 6301 E:\BILLS\H7380.IH H7380 pbinns on DSKJLVW7X2PROD with BILLS