§ 1089. Master calendar
(a)
Secretary required to comply with schedule
To assure adequate notification and timely delivery of student aid funds under this subchapter and part
C of subchapter
I of chapter
34 of title
42, the Secretary shall adhere to the following calendar dates in the year preceding the award year:
(1)
Development and distribution of Federal and multiple data entry forms—
(B)
by March 1: proposed modifications and updates pursuant to section
1087rr of this title published in the Federal Register;
(C)
by June 1: final modifications and updates pursuant to section
1087rr of this title published in the Federal Register;
(2)
Allocations of campus-based and Pell Grant funds—
(A)
by August 1: distribution of institutional application for campus-based funds (FISAP) to institutions;
(3)
The Secretary shall, to the extent practicable, notify eligible institutions, guaranty agencies, lenders, interested software providers, and, upon request, other interested parties, by December 1 prior to the start of an award year of minimal hardware and software requirements necessary to administer programs under this subchapter and part
C of subchapter
I of chapter
34 of title
42.
(b)
Timing for reallocations
With respect to any funds reallocated under section
1070b–3
(d) of this title, section
2752
(d) of title
42, or section
1087bb
(i) of this title, the Secretary shall reallocate such funds at any time during the course of the year that will best meet the purpose of the programs under subpart 3 of part A of this subchapter, part
C of subchapter
I of chapter
34 of title
42, and part D of this subchapter, respectively. However, such reallocation shall occur at least once each year, not later than September 30 of that year.
(c)
Delay of effective date of late publications
(1)
Except as provided in paragraph (2), any regulatory changes initiated by the Secretary affecting the programs under this subchapter and part
C of subchapter
I of chapter
34 of title
42 that have not been published in final form by November 1 prior to the start of the award year shall not become effective until the beginning of the second award year after such November 1 date.
(2)
(A)
The Secretary may designate any regulatory provision that affects the programs under this subchapter and part
C of subchapter
I of chapter
34 of title
42 and is published in final form after November 1 as one that an entity subject to the provision may, in the entity’s discretion, choose to implement prior to the effective date described in paragraph (1). The Secretary may specify in the designation when, and under what conditions, an entity may implement the provision prior to that effective date. The Secretary shall publish any designation under this subparagraph in the Federal Register.
(d)
Notice to Congress
The Secretary shall notify the authorizing committees when a deadline included in the calendar described in subsection (a) of this section is not met. Nothing in this section shall be interpreted to penalize institutions or deny them the specified times allotted to enable them to return information to the Secretary based on the failure of the Secretary to adhere to the dates specified in this section.
(e)
Compliance calendar
Prior to the beginning of each award year, the Secretary shall provide to institutions of higher education a list of all the reports and disclosures required under this chapter. The list shall include—
(1)
the date each report or disclosure is required to be completed and to be submitted, made available, or disseminated;
(4)
a description of the content of each report or disclosure sufficient to allow the institution to identify the appropriate individuals to be assigned the responsibility for such report or disclosure;