12 2 STA T .3 32 8PUBLIC LA W 11 0– 31 5— AU G .1 4, 2008 ‘ ‘ (2)SPECIALRU LE .—Ani n st it u ti o no fh i g h er e d u ca tion that conducts a teach - out through the esta bl ish m ent of an additional location described in p aragraph ( 1 ) shall be permitted to estab- lish a permanent additional location at a closed institution and shall not be re q uired— ‘‘(A) to meet the requirements of sections 1 0 2(b)(1)( E ) and 102(c)(1)( C ) for such additional location
or ‘‘( B ) to assume the liabilities of the closed institution. ’ ’. SEC.497 . PROG R AM RE VI E W A ND DA T A. Section 498 A(b) (20 U .S.C. 1099c – 1(b)) is amended— (1) in paragraph (4) , b y stri k ing ‘‘and’’ after the semicolon; (2) in paragraph ( 5 ) by striking the period and inserting a semicolon; and ( 3 ) by adding at the end the follo w ing
‘‘( 6 ) pro v ide to an institution of higher education an ade- quate opportunity to review and respond to any program review report and relevant materials related to the report before any final program review report is issued; ‘‘( 7 ) review and take into consideration an institution of higher education’s response in any final program review report or audit determination, and include in the report or determina- tion— ‘‘(A) a written statement addressing the institution of higher education’s response; ‘‘(B) a written statement of the basis for such report or determination; and ‘‘(C) a copy of the institution’s response; and ‘‘(8) maintain and preserve at all times the confidentiality of any program review report until the requirements of para- graphs (6) and (7) are met, and until a final program review is issued, other than to the e x tent required to comply with paragraph (5), except that the Secretary shall promptly disclose any and all program review reports to the institution of higher education under review.’’. SEC. 49 8 . REVIEW O F REG UL ATIONS. Section 498B (20 U.S.C. 1099c–2) is amended by striking sub- section (d). PARTI—COM P E TITI V E L OA N A U CTION PILOT PRO G RAM SEC. 499. COMPETITIVE LOAN AUCTION PILOT PROGRAM EVALUATION. Section 499 (20 U.S.C. 1099d) is amended— (1) in subsection (b)(3)— (A) in subparagraph (B)— (i) in clause (i), by striking ‘‘and’’ after the semi- colon; (ii) in clause (ii), by striking the period at the end of the sentence and inserting ‘‘; and’’; and (iii) by adding at the end the following: ‘‘(iii) a commitment from such eligible lender that, if the lender has a winning bid under subparagraph ( F ), the lender will enter into the agreement required under subparagraph ( G ).’’;
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