New Legislation Aims to Make It Easier for HBCUs to Raise Money Through Bonds

kme-official-photo-2010Last week, JBHE published a post about legislation that would provide $70 million for the restoration of historic buildings on HBCU campuses. In another legislative effort to support historically Black colleges and university, U.S. Representative Keith Ellison of Minnesota has introduced the HBCU Investment Expansion Act.

The legislation would make bonds issued by historically Black colleges and universities exempt from federal, state, and local taxes. Earlier this year JBHE published a post on a study by scholars at Drexel University in Philadelphia, the University of Notre Dame in Indiana, Duke University in North Carolina, and the University of California, San Diego. The study found that historically Black colleges and universities pay a higher underwriting fee for debt issues than predominantly White institutions even when credit reporting agencies rate the debt issues as having similar risk.

The Ellison legislation would serve to make HBCU bonds more attractive to investors. Congressman Ellison stated that “this legislation will level the playing field and help HBCus get the funds they need to build new dorms, labs, or classrooms without additional costs or fees.”

Representative Ellison is a native of Detroit. He is a graduate of Wayne State University in Detroit and earned his law degree at the University of Minnesota. He was elected to Congress in 2006.

Related Articles


  1. This is great Midwestern (Minnesota) thinking,it is progressive and caring. This is a measure that can and will be helpful to our schools.
    VUU and HUSL grad.

Leave a Reply

Get the JBHE Weekly Bulletin

Receive our weekly email newsletter delivered to your inbox

Latest News

Alcorn State University Recruited for Federal Student Pathway Program for Careers in Public Service

The Pathway Public Service Program was established in 2019 to develop the next generation of diverse, qualified, and motivated public health servants. Over the past five years, the program has hired over 100 student interns.

Five Black Scholars Selected for New Faculty Positions

The five Black scholars who aer taking on new roles are Khadene Harris at Rice University in Houston, Nakia Melecio at the Georgia Institute of Technology, Bettina Drake at Washington University in St. Louis, Arlette Ngoubene Atioky at Goucher College in Maryland, and Kandi Hill-Clarke at the University of Memphis.

Getty Images to Preserve Digital Photo Archives at Delaware State University

Currently, Delaware State University's photo archives contain thousands of photographs taken over the course of the university's 133 year history. Thanks to a new partnership with Getty Images, those images will be digitized and made available on

Porché Spence Recognized for Outstanding Commitment to Advancing Diversity in Ecology

Dr. Spence currently serves as an assistant professor of environmental studies at North Carolina A&T State University. Throughout her career, she has developed several educational programs geared towards introducing students of color to environmental science fields.

Featured Jobs