Realizing Excellence in Institutional Grants, New Infrastructure, Technology and Education Act of 2024

HR 8017 creates a federal grant program to help Minority-Serving Institutions (MSIs) improve their campus facilities. The bill provides competitive grants to eligible institutions like Historically Black Colleges and Universities, Hispanic-serving institutions, Tribal Colleges, and other MSIs for projects including building new facilities, upgrading technology infrastructure, improving safety, and modernizing existing buildings. Priority for grants is given to institutions with the greatest facility needs, limited fundraising capacity, high enrollment of students eligible for Pell Grants, and those facing declining state support. Institutions must develop 10-year facility improvement plans and report on their use of funds, with specific rules about what grants can and cannot be used for. The bill also includes a provision to forgive certain HBCU capital financing loans.