CALVIN COOLIDGE MEMORIAL FOUNDATION GRANT.

SEC. 502. CALVIN COOLIDGE MEMORIAL FOUNDATION GRANT. (a) Definitions.—In this section: (1) Foundation.—The term “Foundation” means the Calvin Coolidge Memorial Foundation. (2) Secretary.—The term “Secretary” means the Secretary of Education. (b) Grant Authorized.—The Secretary is authorized to make a grant in the amount of $1,000,000 in accordance with the provisions of this section to the Foundation. (c) Grant Conditions.— (1) Application.—No payment may be made under this section except upon an application at such time, in such manner, and containing or accompanied by such information as the Secretary may require. (2) Use of grant funds.—Funds received under this section may be used for any of the following purposes: (A) To increase the endowment of the Foundation. (B) To conduct educational, archival, or preservation activities of the Foundation. (d) Authorization of Appropriations.—There are authorized to be appropriated to the Secretary $1,000,000, without fiscal year limitation, to carry out the provisions of this section. (e) Effective Date.—This section shall take effect on October 1, 1996.