20 U.S.C. § 130aa–3
Withdrawals and expenditures
United States · Title 20 — EDUCATION · Status: effective
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- Citation
- 20 U.S.C. § 130aa–3, Withdrawals and expenditures, United States, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/451610
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Full text
The University may withdraw and expend its endowment fund income to defray any expenses necessary to its operation, including expenses of operations and maintenance, administration, academic and support personnel, construction and renovation, community and student services programs, technical assistance, and research. No endowment fund income or corpus may be used for any type of support of the executive officers of the University or for any commercial enterprise or endeavor entered into after January 1, 1981. Except as provided in subsection (b), the University shall not, in the aggregate, withdraw or expend more than 50 per centum of the total aggregate endowment fund income earned prior to the time of withdrawal or expenditure.
The Secretary is authorized to permit the University to withdraw or expend more than 50 per centum of its total aggregate endowment income whenever the University demonstrates such withdrawal or expenditure is necessary because of—
Legislative history
The public laws that enacted or amended this section. Tallies are for the whole bill as it passed each chamber — often an omnibus covering far more than this provision — not a vote on this section alone.
- Library Services and Construction Act Amendments of 1983House: no recorded tallySenate: no recorded tally