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Title 20 — EducationRelease 119-73

§130aa–4 Enforcement

Title 20 › Chapter CHAPTER 8— - HOWARD UNIVERSITY › Subchapter SUBCHAPTER II— - ENDOWMENT › § 130aa–4

Last updated Apr 6, 2026|Official source

Summary

The Secretary can stop and get back any grant after giving notice and a chance for a hearing if the University spends or withdraws endowment principal or income more than allowed, does not follow required investment rules for the endowment, or fails to report investments and spending correctly. If a grant is stopped, the University must return to the U.S. Treasury the original grant amount(s) plus any income earned on that money. The Secretary can also order other steps to fix the violation and protect the government's funds.

Full Legal Text

Title 20, §130aa–4

Education — Source: USLM XML via OLRC

(a)After notice and an opportunity for a hearing, the Secretary is authorized to terminate and recover any grant awarded under this subchapter if the University—
(1)withdraws or expends any endowment fund corpus, or any endowment fund income in excess of the amount authorized by section 130aa–3 of this title;
(2)fails to invest its endowment fund corpus or income in accordance with the investment standards set forth in section 130aa–2 of this title; or
(3)fails to account properly to the Secretary concerning investments and expenditures of its endowment fund corpus or income.
(b)If the Secretary terminates a grant under subsection (a), the University shall return to the Treasury of the United States an amount equal to the sum of the original grant or grants under this subchapter 11 See Codification note below. plus any income earned thereon. The Secretary may direct the University to take such other appropriate measures to remedy any violation of this subchapter and to protect the financial interest of the United States.

Legislative History

Notes & Related Subsidiaries

Editorial Notes

Codification This subchapter, the first time it appears in subsec. (b), was in the original “this Act” which was translated as reading “this title”, meaning title II of Pub. L. 98–480, Oct. 17, 1984, 98 Stat. 2236, as the probable intent of Congress.

Reference

Citations & Metadata

Citation

20 U.S.C. § 130aa–4

Title 20 — Education

Last Updated

Apr 6, 2026

Release point: 119-73