Pub. L. 94-484, tit. III, sec. 305

recapture

EnactedYear: 1976Length: 240 wordsOfficial source
recapture Sec. 305. Section 723 is amended— (1) by striking out “paid under this part” and inserting in lieu thereof “under a grant under section 720(a)(1) ”, (2) by inserting “(a)” before “If’, (3) by redesignating paragraphs (a), (b), and (c) as paragraphs (1), (2), and (3), respectively, and (4) by adding at the end the following: “(b) If, within 20 years after completion of any construction for which fluids have been paid under a grant under section 720(a)(2)— “(1) the applicant or other owner of the facility shall cease to be a public or nonprofit entity; “(2) the facility shall cease to be used for the training purposes for which such funds were provided, unless the Secretary determines, in accordance with regulations which he shall promulgate, that there is a significant public purpose and good cause for releasing the applicant or other owner from the obligation to do so; or (3) the facility is used for sectarian instruction or as a place for religious worship, the United States shall be entitled to recover from the applicant or90 STAT. 2256 other owner of the facility the amount bearing the same ratio to the then value (as determined by agreement of the parties or by action brought in the United States district court for the district in which such facility is situated) of the facility, as the amount of the Federal participation bore to the cost of construction of such facility.”.
Pub. L. 94-484, tit. III, sec. 305: recapture | Justis AI