20 U.S.C. § 130aa — Definitions
submitted 42 years ago by Pub. L. 98-480 to r/title-20-EDUCATION · 122 words · no verdicts yet
This section defines terms used in Howard University's endowment law. The "endowment fund" raises income for the university and excludes real estate. Its "corpus" is the matched federal and university grant money; its "income" is the fund's value above that.
For purposes of this subchapter—
the term “endowment fund” means a fund, or a tax exempt foundation, established and maintained by Howard University for the purpose of generating income for its support, but which shall not include real estate;
the term “endowment fund corpus” means an amount equal to the grants awarded under this subchapter plus an amount equal to such grants provided by Howard University;
the term “endowment fund income” means an amount equal to the total value of the endowment fund established under this subchapter minus the endowment fund corpus;
the term “Secretary” means the Secretary of Education; and
the term “University” means the Howard University established by the Act of March 2, 1867.
Source credit: (Pub. L. 98–480, title II, § 202, Oct. 17, 1984, 98 Stat. 2245.)
- 1984Enacted · Pub. L. 98-480 · 98 Stat. 2245
A history note hasn’t been published yet. The record shows enactment by Pub. L. 98-480 on 1984-10-17.
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