20 USC - U.S. Code - Title 20: Education (January 2004)
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(a) Award period (1) In general The Secretary may award a grant to a Hispanic-serving institution under this subchapter for 5 years. (2) Waitout period A Hispanic-serving institution shall not be eligible to secure a subsequent 5-year grant award under this subchapter until 2 years have elapsed since the expiration of the institution's most recent 5-year grant award under this subchapter, except that for the purpose of this subsection a grant under section 1103c(a) of this title shall not be considered a grant under this subchapter. (b) Planning grants Notwithstanding subsection (a) of this section, the Secretary may award a grant to a Hispanic-serving institution under this subchapter for a period of 1 year for the purpose of preparation of plans and applications for a grant under this subchapter.