(a) In General.—In the case of any for-profit educational institution that is converted to a nonprofit educational institution, the State approving agency or the Secretary when acting as a State approving agency shall conduct annual risk-based surveys of the institution during the three-year period beginning on the date on which the educational institution is so converted.
(b) Risk-based Survey Defined.—In this section, the term “risk-based survey” means the risk-based survey developed under section 3673A of this title.
(Added Pub. L. 116–315, title I, § 1022(a), Jan. 5, 2021, 134 Stat. 4959.)
Statutory Notes and Related Subsidiaries
Effective DatePub. L. 116–315, title I, § 1022(c), Jan. 5, 2021, 134 Stat. 4959, as amended by Pub. L. 117–16, § 5(a), June 8, 2021, 135 Stat. 283, provided that: “Section 3699B of title 38, United States Code, as added by subsection (a), shall apply with respect to the conversion of a for-profit educational institution to a nonprofit educational institution, or the conversion of a for-profit educational institution to a public educational institution, that occurs on or after the date of the enactment of this Act [Jan. 5, 2021].”
[Pub. L. 117–16, § 5(b), June 8, 2021, 135 Stat. 283, provided that: “The amendment made by subsection (a) [amending section 1022(c) of Pub. L. 116–315, set out above] shall apply as if included in the enactment of the Johnny Isakson and David P. Roe, M.D. Veterans Health Care and Benefits Improvement Act of 2020 (Public Law 116–315).”
]