Pub. L. 105-78, tit. III, sec. 312

Sec. 312. Notwithstanding any other provision of law, any institution of higher education which receives funds under title HI of the Higher Education Act, except for grants made under section 326, may use up to 20 percent of its award under part A or part B of the Act for endowment building purposes authorized under section 331. Any institution seeking to use part A or part B funds for endowment building purposes shall indicate such intention in its application to the Secretary and shall abide by departmental regulations governing the endowment challenge grant program.