20 U.S.C. § 3605: Asbestos Hazards Control Loan Program

There is established within the Department of Education an Asbestos Hazards Control Loan Program (hereinafter in this chapter referred to as the “Loan Program”), which shall be administered by the Secretary in accordance with this section. the containment or removal of any materials containing asbestos in school buildings in which such materials pose an imminent hazard to the health and safety of children or employees; the replacement of the asbestos materials removed from school buildings with other appropriate building materials; and making repairs which the Secretary determines to be necessary to restore school buildings to conditions comparable to those existing before containment or removal activities were undertaken under subparagraph (A). If the Secretary determines that an applicant has limited fiscal resources and would be unable to carry out the projects described in paragraph (2) without receiving a loan under this section for an amount greater than the amount permitted under such paragraph, the Secretary may increase the amount of the loan payable to such applicant to an amount the Secretary considers appropriate to enable the applicant to carry out such projects. The loan shall not bear any interest except as otherwise provided under paragraph (5). The loan shall have a maturity period of not more than 20 years (as determined by the Secretary) and shall be repayable during such period at such times and in such amounts as the Secretary may specify in the loan agreement. Repayment of the loan shall be made to the Secretary of the Treasury for deposit in the general fund of the Treasury. the nature of the asbestos problem for which the loan is sought; the asbestos content of the material to be contained or removed by the local educational agency, as determined under preliminary testing which was conducted in accordance with the standards established by the Secretary under section 3606(a)(1) of this title , or, in the case of testing conducted before June 14, 1980 , was conducted in a manner which substantially conforms to such standards; and the methods which will be used to contain or remove the asbestos materials, in accordance with section 3606(b) of this title , and any other pertinent details relating to the project or projects to be conducted by the applicant (as described in subsection (a)(2)); and any employee engaged in any activity to carry out programs under this section shall be notified in writing by the local educational agency conducting the program of the hazards of working with asbestos, and shall be required to utilize all appropriate safety procedures to minimize health risks; no child or school employee shall be permitted in the vicinity of any asbestos containment or removal activity; and the local educational agency shall pay employees engaged in containment, removal, or replacement activities to carry out programs under this section at reasonable rates of pay, as established by the Secretary on the basis of prevailing wage rates in the location of such work. The Secretary shall provide the Task Force with a copy of any application submitted to the Secretary under paragraph (1). meets the requirements of paragraph (1); and contains assurances that any work already completed by the applicant has been carried out in substantial conformity with section 3606(b) of this title . describe the number of loans made in the preceding calendar year and specify each applicant for and recipient of a loan; describe the nature of the asbestos problem of each applicant; describe the types of programs for which loans were made; specify the estimated total costs of such programs to the recipients of loans and specify the amount of loans made under the Loan Program; and specify the number of loan applications which were disapproved during the preceding calendar year and describe the reasons for such disapprovals.