Us Code § 1070b - –4. Carryover and carryback authority
Full text of Us Code United States Code § 1070b — –4. Carryover and carryback authority, with citation guidance and answers to common questions.
§ 1070b. –4. Carryover and carryback authority
(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.
(Pub. L. 89–329, title IV, §413E, as added Pub. L. 105–244, title IV, §406(d), Oct. 7, 1998, 112 Stat. 1665.)
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.
subpart 4—leveraging educational assistance partnership program
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 L. 102–325, title IV, §402(a)(1), (2), July 23, 1992, 106 Stat. 482, redesignated former subpart 3 as 4 and repealed former subpart 4, comprising sections 1070d to 1070d–1d, which authorized special programs for students from disadvantaged backgrounds.
About This Section
20 U.S.C. § 1070b is part of Title 20 of the United States Code. The United States Code is the official codification of federal statutes maintained by the Office of the Law Revision Counsel of the U.S. House of Representatives. Congress amends the Code through new public laws, which are eventually incorporated into the relevant title.
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