12 2 STA T . 1 986PUBLIC LA W 11 0– 2 4 6 —J U NE 18 , 2008 ‘ ‘ (6)ENDOWME N TS.—Amounts m ade a v a il a b le unde r t h is subse c tion shall be held and considered to be g ranted to H is -p anic-serving agricultural colleges and universities to establish an endo w ment in accordance with this subsection. ‘‘( 7 )A U T H O RIZA TION O F A P PROPRIATIONS.— T here are authori z ed to be appropriated to the S ecretar y such sums as are necessary to carry out this subsection f or fiscal year 20 0 8 and each fiscal year thereafter. ‘‘(c) AUTHORIZATION FOR ANNUA LP A Y MENTS.— ‘‘( 1 ) I N G ENERAL.— F or fiscal year 2008 and each fiscal year thereafter , there are authorized to be appropriated to the D epartment of Agriculture to carry out this subsection an amount e q ual to the product obtained by multiplying— ‘‘(A) $ 80,000
by ‘‘( B ) the number of Hispanic-serving agricultural col- leges and universities. ‘‘(2) PAYMENTS.—For fiscal year 2008 and each fiscal year thereafter, the Secretary of the Treasury shall pay to the treas- urer of each Hispanic-serving agricultural college and univer- sity an amount equal to— ‘‘(A) the total amount made available by appropriations under paragraph (1); divided by ‘‘(B) the number of Hispanic-serving agricultural col- leges and universities. ‘‘( 3 ) U SE OF FUNDS.— ‘‘(A) IN GENERAL.—Amounts authorized to be appro- priated under this subsection shall be used in the same manner as is prescribed for colleges under the Act of August 30, 18 9 0 (commonly k nown as the ‘Second M orrill Act ’ ) (7 U.S. C . 321 et seq.). ‘‘(B) R ELATIONSHIP TO OTHER LAW.—E x cept as other- wise provided in this subsection, the requirements of that Act shall apply to Hispanic-serving agricultural colleges and universities under this section. ‘‘(d) INSTITUTIONAL CAPA C ITY-BUILDING G RANTS.— ‘‘(1) IN GENERAL.—For fiscal year 2008 and each fiscal year thereafter, the Secretary shall make grants to assist His- panic-serving agricultural colleges and universities in institu- tional capacity building (not including alteration, repair, ren- ovation, or construction of buildings). ‘‘(2) CRITERIA FOR INSTITUTIONAL CAPACITY- B UILDING GRANTS.— ‘‘(A) RE Q UIREMENTS FOR GRANTS.—The Secretary shall make grants under this subsection on the basis of a competitive application process under which Hispanic- serving agricultural colleges and universities may submit applications to the Secretary at such time, in such manner, and containing such information as the Secretary may require. ‘‘(B) DEMONSTRATION OF NEED.— ‘‘(i) IN GENERAL.—As part of an application for a grant under this subsection, the Secretary shall require the applicant to demonstrate need for the grant, as determined by the Secretary. ‘‘(ii) O THER SOURCES OF FUNDING.—The Secretary may award a grant under this subsection only to an applicant that demonstrates a failure to obtain funding Ap p licab ili ty.
�
