86 STAT. ]
PUBLIC LAW 92-318-JUNE 23, 1972
" (ii) If during any period of any fiscal year the funds available for making payments on the basis of entitlements established under this subparagraph are insufficient to satisfy fully all such entitlements, the amount paid with respect to each such entitlement shall be ratably reduced. When additional funds become available for such purpose, the amount of payment from such additional funds shall be in proportion to the degree to which each such entitlement is unsatisfied by the payments made under the first sentence of this division. " (3)(A) In determining the number of students in attendance at institutions of higher education under this subsection, the Commissioner shall compute the full-time equivalent of part-time students. " (B) The Commissioner shall make a separate determination of the number of students in attendance at an institution of higher education and the number of recipients of basic grants at any such institution at each branch or separate campus of that institution located in a different community from the principal campus of that institution pursuant to criteria established by him. "(c)(1) An institution of higner education may receive a cost-ofeducation payment in accordance with this section only upon application therefor. A n application under this section shall be submitted at such time or times, m such manner, and containing such information as the Commissioner determines necessary to carry out his functions under this title, and shall— " (A) set forth such policies, assurances, and procedures as will insure that— " (i) the funds received by the institution under this section will be used solely to defray instructional expenses in academically related programs of the applicant; "(ii) the funds received by the institution under this section will not be used for a school or department of divinity or for any religious worship or sectarian activity; "(iii) the applicant will expend, during the academic year for which a payment is sought, for all academically related programs of the institution, an amount equal to at least the average amount so expended during the three years preceding the year for which the grant is sought; and "(iv) the applicant will submit to the Commissioner such reports as the Commissioner may require by regulation; and " (B) contain such other statement of policies, assurances, and procedures as the Commissioner may require by regulation in order to protect the financial interests of the United States. " (d)(1) The Commissioner shall pay to each institution of higher education for each fiscal year the amount to which it is entitled under this section. " (2) Of the total sums appropriated to make payments on the basis of entitlements established under this section and on the basis of entitlements established under part F of title IX — " (A) 45 per centum shall be available for making payments on the basis of entitlements established under paragraph (2)(A) of subsection (a); " (B) 45 per centum shall be available for making payments on the basis of entitlements established under paragraph (2)(B) of subsection (a); and " (C) 10 per centum shall be available for making payments on the basis of entitlements established under part F of title IX. "(3) No payments on the basis of entitlements established under paragraph (2)(A) of subsection (a) may be made during any fiscal year for which the appropriations for making grants under subpart 1 does not equal at least 50 per centum of the appropriation necessary
377
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