20 U.S.C. § 1064 — Repealed. Pub. L. 102–325, title III,

Page 300 TITLE 20—EDUCATION § 1064 1 So in original. 2 See References in Text note below. (2) Funding from ED 1 Except as provided in paragraph (3), the Sec- retary shall provide funding and administra- tive support for the President’s Board of Advi- sors, subject to the availability of appropria- tions. (3) Funding from the Executive Office of the President If the President elects to locate the Presi- dent’s Board of Advisors within the Executive Office of the President, the Executive Office of the President shall provide funding and ad- ministrative support for the President’s Board of Advisors, subject to the availability of ap- propriations. (b) Membership (1) In general The President shall appoint not more than 23 members to the President’s Board of Advi- sors, and the Secretary and Executive Direc- tor or their designees shall serve as ex officio members. (2) Chair (A) Designation The President shall designate one member of the President’s Board of Advisors to serve as its Chair, who shall help direct the Board’s work in coordination with the Sec- retary and in consultation with the Execu- tive Director. (B) Consultation The Chair shall also consult with the Exec- utive Director regarding the time and loca- tion of meetings of the President’s Board of Advisors, which shall take place not less fre- quently than once every 6 months. (C) Performance Insofar as the Federal Advisory Com- mittee Act (5 U.S.C. App.) 2 may apply to the President’s Board of Advisors, any functions of the President under such Act, except for those of reporting to the Congress, shall be performed by the Chair, in accordance with guidelines issued by the Administrator of General Services. (3) Compensation Members of the President’s Board of Advi- sors shall serve without compensation, but shall be reimbursed for travel expenses, in- cluding per diem in lieu of subsistence, as au- thorized by law. (c) Mission and functions The President’s Board of Advisors shall advise the President, through the White House Initia- tive, on all matters pertaining to strengthening the educational capacity of HBCUs, which shall include the following: (1) Improving the identity, visibility, dis- tinctive capabilities, and overall competitive- ness of HBCUs. (2) Engaging the philanthropic, business, government, military, homeland-security, and education communities in a national dialogue regarding new HBCU programs and initiatives. (3) Improving the ability of HBCUs to re- main fiscally secure institutions that can as- sist the Nation in achieving its educational goals and in advancing the interests of all Americans. (4) Elevating the public awareness of, and fostering appreciation of, HBCUs. (5) Encouraging public-private investments in HBCUs. (6) Improving government-wide strategic planning related to HBCU competitiveness to align Federal resources and provide the con- text for decisions about HBCU partnerships, investments, performance goals, priorities, human capital development, and budget plan- ning. (d) Report The President’s Board of Advisors shall report annually to the President on the Board’s progress in carrying out its duties under this section. (Pub. L. 116–270, § 5, Dec. 31, 2020, 134 Stat. 3328.) Editorial Notes REFERENCES IN TEXT The Federal Advisory Committee Act, referred to in subsec. (b)(2)(C), is Pub. L. 92–463, Oct. 6, 1972, 86 Stat. 770, which was set out in the Appendix to Title 5, Gov- ernment Organization and Employees, and was substan- tially repealed and restated in chapter 10 (§ 1001 et seq.) of Title 5 by Pub. L. 117–286, §§ 3(a), 7, Dec. 27, 2022, 136 Stat. 4197, 4361. For disposition of sections of the Act into chapter 10 of Title 5, see Disposition Table pre- ceding section 101 of Title 5. CODIFICATION This section was enacted as part of the HBCU Propel- ling Agency Relationships Towards a New Era of Re- sults for Students Act or the HBCU PARTNERS Act, and not as part of the Higher Education Act of 1965 which comprises this chapter. PART C—ENDOWMENT CHALLENGE GRANTS FOR INSTITUTIONS ELIGIBLE FOR ASSISTANCE UNDER PART A OR PART B § 1064. Repealed. Pub. L. 102–325, title III, § 304(a)(2), July 23, 1992, 106 Stat. 476 Section, Pub. L. 89–329, title III, § 331, as added Pub. L. 99–498, title III, § 301(a), Oct. 17, 1986, 100 Stat. 1298, related to establishment of challenge grant program. A prior section 1064, Pub. L. 89–329, title III, § 331, as added Pub. L. 96–374, title III, § 301, Oct. 3, 1980, 94 Stat. 1395; amended Pub. L. 97–35, title V, § 516(c)(2), Aug. 13, 1981, 95 Stat. 447, established a challenge grant pro- gram, prior to the general revision of this subchapter by Pub. L. 99–498. Another prior section 1064, Pub. L. 89–329, title IV, § 404, Nov. 8, 1965, 79 Stat. 1233, related to time and man- ner of making application for grant, selection of recipi- ents and conditions precedent to award, prior to the general revision of part A of subchapter IV of this chap- ter by Pub. L. 92–318, title I, § 131(b)(1), June 23, 1972, 86 Stat. 247. Statutory Notes and Related Subsidiaries EFFECTIVE DATE OF REPEAL Repeal effective Oct. 1, 1992, see section 2 of Pub. L. 102–325, set out as an Effective Date of 1992 Amendment note under section 1001 of this title. Page 301 TITLE 20—EDUCATION § 1065 § 1065. Endowment challenge grants (a) Purpose; definitions (1) The purpose of this section is to establish a program to provide matching grants to eligi- ble institutions in order to establish or increase endowment funds at such institutions, to pro- vide additional incentives to promote fund rais- ing activities by such institutions, and to foster increased independence and self-sufficiency at such institutions. (2) For the purpose of this section: (A) The term ‘‘endowment fund’’ means a fund established by State law, by an institu- tion of higher education, or by a foundation which is exempt from taxation and is main- tained for the purpose of generating income for the support of the institution, but which shall not include real estate. (B) The term ‘‘endowment fund corpus’’ means an amount equal to the grant or grants awarded under this section plus an amount equal to such grant or grants provided by the institution. (C) The term ‘‘endowment fund income’’ means an amount equal to the total value of the endowment fund established under this section minus the endowment fund corpus. (D)(i) The term ‘‘eligible institution’’ means an institution that is an— (I) eligible institution under part A or would be considered to be such an institu- tion if section 1058(b)(1)(C) of this title re- ferred to a postgraduate degree rather than a bachelor’s degree; (II) institution eligible for assistance under part B or would be considered to be such an institution if section 1063 of this title referred to a postgraduate degree rath- er than a baccalaureate degree; or (III) institution of higher education that makes a substantial contribution to post- graduate medical educational opportunities for minorities and the economically dis- advantaged. (ii) The Secretary may waive the require- ments of subclauses (I) and (II) of clause (i) with respect to a postgraduate degree in the case of any institution otherwise eligible under clause (i) for an endowment challenge grant upon determining that the institution makes a substantial contribution to medical education opportunities for minorities and the economically disadvantaged. (b) Grants authorized (1) From sums available for this section under section 1068h of this title, the Secretary is au- thorized to award endowment challenge grants to eligible institutions to establish or increase an endowment fund at such institution. Such grants shall be made only to eligible institu- tions described in paragraph (4) whose applica- tions have been approved pursuant to subsection (g). (2)(A) Except as provided in subparagraph (B), no institution shall receive a grant under this section, unless such institution has deposited in its endowment fund established under this sec- tion an amount equal to the amount of such grant. The source of funds for this institutional match shall not include Federal funds or funds from an existing endowment fund. (B) The Secretary may make a grant under this part to an eligible institution in any fiscal year if the institution— (i) applies for a grant in an amount not ex- ceeding $1,000,000; and (ii) has deposited in the eligible institution’s endowment fund established under this section an amount which is equal to 1⁄2 of the amount of such grant. (C) An eligible institution of higher education that is awarded a grant under subparagraph (B) shall not be eligible to receive an additional grant under subparagraph (B) until 10 years after the date on which the grant period termi- nates. (3) The period of a grant under this section shall be not more than 20 years. During the grant period, an institution may not withdraw or expend any of the endowment fund corpus. After the termination of the grant period, an in- stitution may use the endowment fund corpus plus any endowment fund income for any edu- cational purpose. (4)(A) An institution of higher education is eli- gible to receive a grant under this section if it is an eligible institution as described in sub- section (a)(2)(D) of this section. (B) No institution shall be ineligible for an en- dowment challenge grant under this section for a fiscal year by reason of the previous receipt of such a grant but no institution shall be eligible to receive such a grant for more than 2 fiscal years out of any period of 5 consecutive fiscal years. (5) An endowment challenge grant awarded under this section to an eligible institution shall be in an amount which is not less than $100,000 in any fiscal year. (6)(A) An eligible institution may designate a foundation, which was established for the pur- pose of raising money for the institution, as the recipient of the grant awarded under this sec- tion. (B) The Secretary shall not award a grant to a foundation on behalf of an institution unless— (i) the institution assures the Secretary that the foundation is legally authorized to receive the endowment fund corpus and is legally au- thorized to administer the fund in accordance with this section and any implementing regu- lation; (ii) the foundation agrees to administer the fund in accordance with the requirements of this section and any implementing regulation; and (iii) the institution agrees to be liable for any violation by the foundation of the provi- sions of this section and any implementing regulation, including any monetary liability that may arise as a result of such violation. (c) Grant agreement; endowment fund provisions (1) An institution awarded a grant under this section shall enter into an agreement with the Secretary containing satisfactory assurances that it will (A) immediately comply with the matching requirements of subsection (b)(2), (B) establish an endowment fund independent of any other such fund of the institution, (C) invest the