§3605 Asbestos Hazards Control Loan Program

Summary

Creates a loan program in the Department of Education run by the Secretary of Education to help local educational agencies pay for asbestos work. The program covers loans equal to 50 percent of the cost to contain or remove asbestos that is an imminent health hazard in school buildings, to replace removed asbestos with safe materials, and to make repairs to return buildings to their prior condition. The Secretary can raise a loan above 50 percent if a school system cannot afford the work. Loans normally carry no interest except as allowed under the law, have a maximum term of 20 years, and are repaid to the U.S. Treasury. To get a loan, a school must apply and be approved by the Secretary after the Task Force is consulted, and applications had to be filed within the two-year period beginning June 14, 1980. Applications must describe the asbestos problem, include test results done under the Secretary’s standards (see section 3606(a)(1)), and explain the removal methods (see section 3606(b)). Applications must also 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 must give the Task Force copies of applications. Projects started before loans were available may qualify only if the application meets these rules and prior work substantially followed section 3606(b). For each of the three calendar years after 1980, the Secretary had to send a report before February 1 to the House and Senate committees listing loans made, applicants and recipients, the asbestos problems, program types, costs and loan amounts, and the number and reasons for disapproved applications.