H.R. 2743 — Introduced in House

I 115th CONGRESS 1st Session H. R. 2743 IN THE HOUSE OF REPRESENTATIVES May 25, 2017Ms. Maxine Waters of California introduced the following bill; which was referred to the Committee on Education and the Workforce A BILL To amend the Higher Education Act of 1965 to require that proprietary institutions of higher education derive not less than fifteen percent of revenues from sources other than funds provided under title IV of such Act. 1. Short title This Act may be cited as the 85/15 Rule Act. 2. 85/15 Rule Section 487(a)(24) of the Higher Education Act of 1965 (20 U.S.C. 1094(a)(24)) is amended by striking ten and inserting fifteen. 3. Effective date This Act shall take effect with respect to award year 2018–2019 and each succeeding award year.