Carryover and carryback authority

20 U.S.C. § 1070b–4

• Title: 20 — Education
• Chapter: 28 — HIGHER EDUCATION RESOURCES AND STUDENT ASSISTANCE
• Subchapter: IV
• Part: Division 4—Model Program Community Partnership and Counseling Grants
• Current through: Pub. L. 119-99

Text

(a) Carryover authority
Of the sums made available to an eligible institution under this subpart for a fiscal year, not more than 10 percent may, at the discretion of the institution, remain available for expenditure during the succeeding fiscal year to carry out the program under this subpart.
(b) Carryback authority
(1) In general
Of the sums made available to an eligible institution under this subpart for a fiscal year, not more than 10 percent may, at the discretion of the institution, be used by the institution for expenditure for the fiscal year preceding the fiscal year for which the sums were appropriated.
(2) Use of carried-back funds
An eligible institution may make grants to students after the end of the academic year, but prior to the beginning of the succeeding fiscal year, from such succeeding fiscal year's appropriations.

History

(Pub. L. 89–329, title IV, §413E, as added Pub. L. 105–244, title IV, §406(d), Oct. 7, 1998, 112 Stat. 1665.)

Editorial Notes

Statutory Notes and Related Subsidiaries

Effective Date
Section effective Oct. 1, 1998, except as otherwise provided in Pub. L. 105–244, see section 3 of Pub. L. 105–244, set out as an Effective Date of 1998 Amendment note under section 1001 of this title.

Editorial Notes

Codification
Pub. L. 105–244, title IV, §407(a)(1), Oct. 7, 1998, 112 Stat. 1666, amended heading generally.
Pub. L. 102–325, title IV, §402(a)(1), (2), July 23, 1992, 106 Stat. 482, redesignated former subpart 3 as 4 and repealed former subpart 4, comprising sections 1070d to 1070d–1d, which authorized special programs for students from disadvantaged backgrounds.