Sec. 302. Program purpose
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Section 311 ( 20 U.S.C. 1057 ) is amended— by striking subsection
(c)and inserting the following: Grants awarded under this section shall be used for 1 or more of the following activities: The purchase, rental, or lease of educational resources. The construction, maintenance, renovation, or joint use and improvement of classrooms, libraries, laboratories, or other instructional facilities, including the integration of computer technology into institutional facilities to create smart buildings. Support of faculty exchanges, faculty development, and faculty fellowships to assist members of the faculty in attaining advanced degrees in their field of instruction. Student support services, including supporting distance education, the development and improvement of academic programs, tutoring, counseling, school-sanctioned travel, and financial literacy for students and families. Improving funds management, administrative management, and the acquisition of equipment for use in strengthening funds management. Maintaining financial stability through establishing or developing a contributions development office or endowment fund. Other activities proposed in the application submitted pursuant to section 391 that— contribute to carrying out the purposes of the program assisted under this section; and are approved by the Secretary as part of the review and acceptance of such application. ; and in subsection (d)— in paragraph (2), by inserting 75 percent of after equal to or greater than ; and by adding at the end the following: An eligible institution that uses grant funds provided under this part to establish or increase an endowment fund may use the interest proceeds from such endowment to provide scholarships to students for the purposes of attending such institution. .
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