TITLE IV--STUDENT ASSISTANCE
Part A--Grants to Students
SEC. 406. FEDERAL SUPPLEMENTAL EDUCATIONAL OPPORTUNITY GRANTS
(a) AUTHORIZATION OF APPROPRIATIONS- Section 413A(b)(1) (20 U.S.C. 1070b(b)(1)) is amended by striking `1993' and inserting `1999'.
(b) USE OF FUNDS FOR LESS-THAN-FULL-TIME STUDENTS- Subsection (d) of section 413C (20 U.S.C. 1070b-2) is amended to read as follows:
`(d) USE OF FUNDS FOR LESS-THAN-FULL-TIME STUDENTS- If the institution's allocation under this subpart is directly or indirectly based in part on the financial need demonstrated by students who are independent students or attending the institution on less than a full-time basis, then a reasonable proportion of the allocation shall be made available to such students.'.
(c) ALLOCATION OF FUNDS-
(1) UPDATING THE BASE PERIOD- Section 413D(a) (20 U.S.C. 1070b-3(a)) is amended--
(A) in paragraph (1), by striking `received and used under this part for fiscal year 1985' and inserting `received under subsections (a) and (b) of this section for fiscal year 1999 (as such subsections were in effect with respect to allocations for such fiscal year)';
(B) in paragraph (2)--
(i) in subparagraphs (A) and (B), by striking `1985' each place the term appears and inserting `1999'; and
(ii) in subparagraph (C)(i), by striking `1986' and inserting `2000'.
(2) ELIMINATION OF PRO RATA SHARE- Section 413D is further amended--
(A) by striking subsection (b);
(B) in subsection (c)(1), by striking `three-quarters of the remainder' and inserting `the remainder';
(C) in subsection (c)(2)(A)(i), by striking `subsection (d)' and inserting `subsection (c)'; and
(D) by redesignating subsections (c), (d), (e), and (f) as subsections (b), (c), (d), and (e), respectively.
(3) EFFECTIVE DATE- The amendments made by this subsection shall apply with respect to allocations of amounts appropriated pursuant to section 413A(b) of the Higher Education Act of 1965 for fiscal year 2000 or any succeeding fiscal year.
(d) CARRYOVER AND CARRYBACK AUTHORITY- Subpart 3 of part A of title IV (20 U.S.C. 1070b et seq.) is amended by adding at the end the following:
`SEC. 413E. CARRYOVER AND CARRYBACK AUTHORITY.
`(a) CARRYOVER AUTHORITY- Of the sums made available to an eligible institution under this subpart for a fiscal year, not more than 10 percent may, at the discretion of the institution, remain available for expenditure during the succeeding fiscal year to carry out the program under this subpart.
`(b) CARRYBACK AUTHORITY-
`(1) IN GENERAL- Of the sums made available to an eligible institution under this subpart for a fiscal year, not more than 10 percent may, at the discretion of the institution, be used by the institution for expenditure for the fiscal year preceding the fiscal year for which the sums were appropriated.
`(2) USE OF CARRIED-BACK FUNDS- An eligible institution may make grants to students after the end of the academic year, but prior to the beginning of the succeeding fiscal year, from such succeeding fiscal year's appropriations.'.
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