revision of maintenance of effort

revision of maintenance of effort Sec. 157. (a) Section 604(b) of the Act is amended by striking out all after the first sentence of such section and inserting in lieu thereof the following: “The Commissioner shall establish basic criteria for making determinations under this subsection.”. (b) Section 604 of the Act is amended by adding at the end thereof the following new subsection: “(c) An institution of higher education shall be eligible for a grunt for a project pursuant to this part in any fiscal year only if such institution has expended from current funds available for that year for instructional and library purposes, other than personnel costs, during the preceding fiscal year an amount not less than the amount expended, per equivalent full time student or in the aggregate, whichever is less, by such institution from current funds for such purposes during the second preceding fiscal year. A combination of institutions of higher education shall be eligible for such a grant in accordance with regulations of the Commissioner prescribing requirements for maintenance of effort. The Commissioner shall establish basic criteria for making determinations under this subsection, and may waive so much of the requirement of this subsection as he determines is equitable in accordance with objective criteria of general applicability.”.