§3605 Asbestos Hazards Control Loan Program

Summary

Sets up a loan program inside the Department of Education that lets local school districts get money to fix dangerous asbestos in school buildings. The Secretary of Education can pay up to 50% of the cost to contain or remove asbestos that is an immediate health hazard, pay to replace the removed materials, and pay to make repairs so the building is restored. If a district cannot do the work without more help, the Secretary may raise the loan above 50% as needed. Loans normally do not charge interest, must be paid back within 20 years on a schedule the Secretary sets, and repayments go to the U.S. Treasury general fund. A school district had to apply and be approved within two years starting June 14, 1980, after the Secretary talks with the Task Force. Applications must describe the asbestos problem, include testing results done under the Secretary’s standards, explain removal methods, and promise to notify and protect workers, keep children and staff away from work areas, and pay workers reasonable wages set by the Secretary. The Secretary gives the Task Force a copy of each application. Projects that started before loans were available can only get loans if the district files an approved application and shows prior work followed the required rules. For each of the three calendar years after 1980, the Secretary must send a report before February 1 listing loans made, applicants and recipients, problem types, program types, costs and loan amounts, and rejected applications with reasons.