86
STAT.]
315
PUBLIC LAW 92-318-JUNE 23, 1972
" (b) The Federal share of carrying out a project through a grant under this section shall not exceed— " (1) 70 per centum of the cost of such project for the first year of assistance under this section; "(2) 50 per centum thereof for the second such year; "(3) 30 per centum thereof for the third such year; and "(4) 10 per centum thereof for the fourth such year.
Federal share, limitations.
•'APPLICATIONS; FEDERAL SHARE
"SEC. 1016. (a)(1) Grants under sections 1013 and 1014 may be made only upon application to the Commissioner. Applications for assistance under such sections shall be submitted at such time, in such manner and form, and containing such information as the Commissioner shall require by regulation. "(2) Xo application submitted pursuant to paragraph (1) shall be approved unless the Commissioner determines that it is consistent with the plan approved by him under section 1001 from the State in which the applicant is located. " (b)(1) Xo application for assistance under section 1013 or 1014 shall be approved for a period of assistance in excess of four years. (2) The Federal share of the cost of carrying out the project for which assistance is sought in an application submitted pursuant to this section shall not exceed— " (A) 40 per centum of such cost for the first year of assistance: " (B) 30 per centum thereof for the second year of assistance; " (C) 20 per centum thereof for the third year of assistance; and •'(D) 10 per centum thereof for the fourth year of assistance. "(c)(1) Funds appropriated pursuant to section 1011 and granted under section 1013 or 1014 shall, subject to paragraph (2), be available for those activities the Commissioner determines to be necessary to carry out the purposes of such sections. "(2) Such funds may be used (A) to remodel or renovate existing facilities, or (B) to equip new and existing facilities, but such funds may not be used for the construction of new facilities or the acquisition of existing facilities. "PAYMENTS
"SEC. 1017. From the amount apportioned to each State pursuant to section 1012, the Commissioner shall pay to each applicant from that State which has had an application for assistance approved under this subpart the Federal share of the amount expended under such application. "DEFINITIONS
"SEC. 1018. As used in this title, the term 'community college' means any junior college, postsecondary vocational school, technical institute. or any other educational institution (which may include a four-year institution of higher education or a branch thereof) in any State which— "(1) is legally authorized within such State to provide a program of education beyond secondary education; "(2) admits as regular students persons who are high school graduates or the equivalent, or at least 18 years of age; "(3) provides a two-year postsecondary educational program leading to an associate degree, or acceptable for credit toward a bachelor's degree, and also provides programs of postsecondary vocational, technical, occupational, and specialized education; " (4) is a public or other nonprofit institution;
Limitations.
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