,,ii  #aad? ,,congress  #a/ ,session    
,s4 #ajfa  ,,9 ,,! ,,s5ate ,,( ,,!      
,,unit$ ,,/ates  ,april #bb1 #bjae,ms4  
,hirono 7= h]self1 ,mr4 ,m>key1 & ,mr4  
,s*um]7 introduc$ ! foll[+ bill2 :i* 0  
read twice & ref]r$ to ! ,committee on  
,heal?1 ,education1 ,labor1 & ,p5sions  
,a ,,bill  ,to improve ! ,f$]al ,pell   
,grant program1 & = o!r purposes4  #a4  
,%ort title ,?is ,act may be cit$ z !   
,pell ,grant ,co/ ( ,tuition ,adju/m5t  
,act4  #b4 ,purpose ,! purpose ( ?is    
,act is to re/ore ! role ( ,f$]al ,pell 
,grants z ! f\ndational ,f$]al inve/m5t 
9 high] education1 9 ord] to /r5g!n !   
economy ( ! ,unit$ ,/ates by improv+    
opportunities = l[-income /ud5ts to     
complete high] education & jo9 ! middle 
class4  #c4 ,f9d+s ,congress f9ds !     
foll[+3 7#a7 ,f$]al ,pell ,grants       
provid$ "u section #dja ( ! ,high]      
,education ,act ( #aife 7#bj ,u4,s4,c4  
#ajgj;a7 7ref]r$ to 9 ?is ,act z ,f$]al 
,pell ,grants7 h hi/orically be5 !      
fundam5tal ,f$]al inve/m5t 9 help+      

l[-income /ud5ts pay = college & ent] ! 
middle class4  7#b7 ,9 ! #aigi-aihj     
academic ye>1 ! maximum ,f$]al ,pell    
,grant paid = #gg p]c5t ( ! av]age co/ (
 att5dance at an 9-,/ate1 #d-ye>        
in/itution ( high] education4 ,h[ev]1 9 
! #bjad-bjae academic ye>1 ! maximum    
,f$]al ,pell ,grant cov]$ less ?an      
"o-?ird ( t av]age co/ ( att5dance or   
#ah1idc4 ,= ! #bjad-bjae academic ye>1 !
 av]age co/ ( only tuition & fees at an 
9-,/ate1 #d-ye> in/itution ( high]      
education is #i1aci4  7#c7 ,! ,,safra   
,act 7,public ,law #aaa-aeb7 provid$ a  
slight inflation adju/m5t to ! maximum  
,f$]al ,pell ,grant4 ,h[ev]1 ?is        
increase is l[] ?an ! ,consum] ,price   
,index & w end aft] ! #bjag-bjah        
academic ye>4  7#d7 ,! program provid+  
,f$]al ,pell ,grants already acts z a   
quasi-entitlem5t1 9 :i* bo? m&atory     
fund+ & discretion>y fund+ comb9e to    
ma9ta9 a maximum ,f$]al ,pell ,grant    
am\nt4  7#e7 ,! ,congressional ,budget  
,(fice reports on any ov]all f9ancial   

surplus or %ortfall 9 ! fund+ provid$ = 
! ,f$]al ,pell ,grant program4 ,h[ev]1 9
 rec5t ye>s1 9 ord] to meet ! maximum   
,f$]al ,pell ,grant level ) ! provid$   
level ( fund+1 ,congress has made cuts  
to ! program ?r\gh impos+ additional    
eligibility requirem5ts = ,f$]al ,pell  
,grants & limit+ ! availability (       
ye>-r\nd ,f$]al ,pell ,grants1 caus+    
significant unc]ta9ty & r$uc+ access to 
high] education = millions ( h>dwork+   
college /ud5ts4  7#f7 ,remov+ ! ,f$]al  
,pell ,grant program f ! unc]ta9ty ( !  
congressional discretion>y              
appropriations process w improve /ud5t  
access to1 & ! af=dability (1 high]     
education4  #d4 ,increas+ ! ,f$]al ,pell
 ,grant & add+ a co/ ( liv+ adju/m5t    
7a7 ,9 g5]al ,section #dja7;b77#b77;,a7 
( ! ,high] ,education ,act ( #aife 7#bj 
,u4,s4,c4 #ajgj;a7b77#b77;,a77 is am5d$ 
by /rik+ clauses 7i7 & 7ii7 & ins]t+ !  
foll[+3  7i7 7,i7 = aw>d ye> #bjad-bjae1
 #i1aci2 &  7,,ii7 = aw>d ye> #bjae-bjaf
 & ea* subsequ5t aw>d ye>1 ! am\nt ( !  

maximum ,f$]al ,pell ,grant det]m9$ "u  
?is clause = ! imm$iately prec$+ aw>d   
ye>1 increas$ by a p]c5tage equal to !  
e/imat$ p]c5tage increase1 if any1 9 !  
,consum] ,price ,index 7z det]m9$ by !  
,secret>y1 us+ ! def9ition 9 section    
#dgh7;f77 = ! mo/ rec5t cal5d> ye> end+ 
prior to ! beg9n+ ( t aw>d ye>2 plus    
7ii7 any additional am\nt specifi$ = !  
maximum ,f$]al ,pell ,grant 9 ! la/     
enact$ appropriation ,act applicable to 
t aw>d ye>1 less  4  7b7 ,effective date
 ,! am5dm5t made by subsection 7a7 %all 
apply ) respect to ,f$]al ,pell ,grants 
aw>d$ "u section #dja ( ! ,high]        
,education ,act ( #aife 7#bj ,u4,s4,c4  
#ajgj;a7 = aw>d ye> #bjae-bjaf & ea*    
succe$+ aw>d ye>4