100 STAT. 1298
PUBLIC LAW 99-498—OCT. 17, 1986 "(1) demonstrates how the grant funds will be used to improve graduate educational opportunities for Black and low-income students, and lead to greater financial independence; and "(2) provides, in the case of applications for grants in excess of $500,000, the assurances required by subsection (a)(2) and specifies the manner in which the eligible institution is going to pay the non-Federal share of the cost of the application. "(e)
Independent professional or graduate institutions eligible for grants under subsection (a) include— "(1) Morehouse School of Medicine; "(2) Meharry Medical School; "(3) Charles R. Drew Postgraduate Medical School; "(4) Atlanta University; and "(5) Tuskegee Institute School of Veterinary Medicine. REPORTING AND AUDIT REQUIREMENTS Grants. 20 USC 1063c.
"SEC. 327. (a) RECORDKEEPING.—Each recipient of a grant under this Act shall keep such records as the Secretary shall prescribe, including records which fully disclose— "(1) the amount and disposition by such recipient of the proceeds of such assistance; "(2) the cost of the project or undertaking in connection with which such assistance is given or used; "(3) the amount of that portion of the cost of the project or undertaking supplied by other sources; and "(4) such other records as will facilitate an effective audit. "(b) REPAYMENT OF UNEXPENDED FUNDS.—Any funds paid to an institution and not expended or used for the purposes for which the funds were paid within 10 years following the date of the initial grant awarded to an institution under part B of this title shall be repaid to the Treasury of the United States. "PART C—CHALLENGE GRANTS FOR INSTITUTIONS ELIGIBLE FOR ASSISTANCE UNDER PART A OR PART B ESTABLISHMENT OF CHALLENGE GRANT PROGRAM
20 USC 1064.
Disadvantaged persons. Minorities.
331. (a) GENERAL AUTHORIZATION; ELIGIBILITY.—(1) From the sums available under section 360(a)(3) for each fiscal year, the Secretary may award a challenge grant to each institution— "(A) which is an eligible institution under part A or would be considered to be such an institution if section 312(b)(l)(C) referred to a postgraduate degree rather than a bachelor's degree; "(B) which is an institution under part B or would be considered to be such an institution if section 324 referred to a postgraduate degree rather than a baccalaureate degree; or "(C) which is an institution that makes a substantial contribution to postgraduate medical educational opportunities for minorities and the economically disadvantaged. "(2) The Secretary may waive the requirements set forth in subparagraphs (A) and (B) of paragraph (1) with respect to a postgraduate degree in the case of any institution otherwise eligible under such paragraph for a challenge grant upon determining that the institution makes a substantial contribution to medical edu"SEC.