From amounts available under section 1068h(a)(2) of this title for any fiscal year, the Secretary shall make grants (under section 1063 of this title) to institutions which have applications approved by the Secretary (under section 1063a of this title) for any of the following uses:
An institution may use not more than 20 percent of the grant funds provided under this part to establish or increase an endowment fund at the institution.
In order to be eligible to use grant funds in accordance with paragraph (1), the eligible institution shall provide matching funds from non-Federal sources, in an amount equal to or greater than the Federal funds used in accordance with paragraph (1), for the establishment or increase of the endowment fund.
The provisions of part C regarding the establishment or increase of an endowment fund, that the Secretary determines are not inconsistent with this subsection, shall apply to funds used under paragraph (1).
20 U.S.C. § 1062
EDITORIAL NOTES
PRIOR PROVISIONSA prior section 1062, Pub. L. 89-329, title III, §323, as added Pub. L. 96-374, title III, §301, Oct. 3, 1980, 94 Stat. 1395, provided for duration of grants to institutions with special needs, prior to the general revision of this subchapter by Pub. L. 99-498.Another prior section 1062, Pub. L. 89-329, title IV, §402, Nov. 8, 1965, 79 Stat. 1232; Pub. L. 90-575, title I, §102, Oct. 16, 1968, 82 Stat. 1017, related to determination of amount of grant and establishment of basic criteria or schedules, prior to the general revision of part A of subchapter IV of this chapter by Pub. L. 92-318, title I, §131(b)(1), June 23, 1972, 86 Stat. 247.
AMENDMENTS2009-Subsec. (a). Pub. L. 111-39 substituted "for any fiscal year," for "in any fiscal year" in introductory provisions.2008-Subsec. (a). Pub. L. 110-315, §309(1), substituted "section 1068h(a)(2)" for "section 1069f(a)(2)" in introductory provisions.Subsec. (a)(12) to (15). Pub. L. 110-315, §309(2), (3), added pars. (12) to (14) and redesignated former par. (12) as (15). 1998-Subsecs. (b), (c). Pub. L. 105-244, §304(a)(1), (2), added subsec. (b) and redesignated former subsec. (b) as (c). Subsec. (c)(3). Pub. L. 105-244, §304(a)(3), struck out par. (3) which read as follows: "The Secretary shall not award a grant under this part for telecommunications technology equipment, facilities or services, if such equipment, facilities or services are available pursuant to section 396(k) of title 47." 1993-Subsec. (b)(3). Pub. L. 103-208 realigned margin.1992-Subsec. (a)(2). Pub. L. 102-325, §303(a)(1), inserted ", including purchase or rental of telecommunications technology equipment or services" after "facilities".Subsec. (a)(5). Pub. L. 102-325, §303(a)(2), inserted ", including telecommunications program materials" after "materials".Subsec. (a)(9) to (12). Pub. L. 102-325, §303(a)(3), added pars. (9) to (12).Subsec. (b)(3). Pub. L. 102-325, §303(b), added par. (3). 1988-Subsec. (a)(3). Pub. L. 100-369, §10(b)(1), inserted ", and faculty development" after "exchanges". Subsec. (a)(7), (8). Pub. L. 100-369, §10(b)(2), added pars. (7) and (8). 1987-Subsec. (a). Pub. L. 100-50 substituted "section 1069f(a)(2) of this title" for "section 1069d(a)(2) of this title".
STATUTORY NOTES AND RELATED SUBSIDIARIES
EFFECTIVE DATE OF 2009 AMENDMENT Amendment by Pub. L. 111-39 effective as if enacted on the date of enactment of Pub. L. 110-315 (Aug. 14, 2008), see section 3 of Pub. L. 111-39, set out as a note under section 1001 of this title.
EFFECTIVE DATE OF 1998 AMENDMENT Amendment by Pub. L. 105-244 effective Oct. 1, 1998, except as otherwise provided in Pub. L. 105-244, see section 3 of Pub. L. 105-244, set out as a note under section 1001 of this title.
EFFECTIVE DATE OF 1993 AMENDMENT Amendment by Pub. L. 103-208 effective as if included in the Higher Education Amendments of 1992, Pub. L. 102-325 except as otherwise provided, see section 5(a) of Pub. L. 103-208, set out as a note under section 1051 of this title.
EFFECTIVE DATE OF 1992 AMENDMENT Amendment by Pub. L. 102-325 effective Oct. 1, 1992, see section 2 of Pub. L. 102-325, set out as a note under section 1001 of this title.
EFFECTIVE DATE OF 1987 AMENDMENT Amendment by Pub. L. 100-50 effective as if enacted as part of the Higher Education Amendments of 1986, Pub. L. 99-498, see section 27 of Pub. L. 100-50, set out as a note under section 1001 of this title.