,,ii  #aae? ,,congress  #b;d ,session   
,s4 #cfaa  ,,9 ,,! ,,s5ate ,,( ,,!      
,,unit$ ,,/ates  ,novemb] #ac1 #bjah    
,mr4 ,alex&] 7= himself1 ,mr4 ,:iteh\se1
 ,mrs4 ,murray1 & ,mr4 ,g>dn]7 introduc$
 ! foll[+ bill2 :i* 0 read twice &      
ref]r$ to ! ,committee on ,f9ance  ,a   
,,bill  ,to am5d ! ,int]nal ,rev5ue     
,code ( #aihf & ! ,high] ,education ,act
 ( #aife to facilitate ! disclosure (   
tax return in=mation to c>ry out !      
,high] ,education ,act ( #aife1 & = o!r 
purposes4  #a4 ,%ort title  ,?is ,act   
may be cit$ z ! ,fa/] ,access to ,f$]al 
,/ud5t ,aid ,act ( #bjah4  #b4 ,secure  
disclosure ( tax-return in=mation to    
c>ry out ! ,high] ,education ,act (     
#aife  7a7 ,am5dm5ts to ! ,int]nal      
,rev5ue ,code ( #aihf  7#a7 ,9 g5]al    
,p>agraph 7#ac7 ( section #fajc7l7 ( !  
,int]nal ,rev5ue ,code ( #aihf is am5d$ 
to read z foll[s3  7#ac7 ,disclosure (  
return in=mation to c>ry out ! ,high]   
,education ,act ( #aife  7,a7           
,income-cont+5t or income-bas$ repaym5t 

& total & p]man5t disability dis*>ge ,! 
,secret>y %all1 ^u writt5 reque/ f !    
,secret>y ( ,education1 disclose to     
(fic]s1 employees1 & contractors ( !    
,dep>tm5t ( ,education1 z specifically  
au?oriz$ & designat$ by ! ,secret>y (   
,education1 only = ! purpose ( 7& to !  
ext5t necess>y 97 e/abli%+1 r5ew+1      
adm9i/]+1 & conduct+ analyses & =eca/s =
 e/imat+ co/s relat$ to income-cont+5t  
or income-bas$ repaym5t programs1 & !   
dis*>ge ( loans bas$ on a total &       
p]man5t disability 7)9 ! mean+ ( section
 #dcg7;a7 ( ! ,high] ,education ,act (  
#aife71 "u title ,,iv ( ! ,high]        
,education ,act ( #aife1 ! foll[+ return
 in=mation 7z def9$ 9 subsection        
7b77#b77 ) respect to taxpay]s id5tifi$ 
by ! ,secret>y ( ,education z p>ticipat+
 9 ! loan programs "u title ,,iv ( su*  
,act1 = taxable ye>s specifi$ by su*    
,secret>y3  7i7 ,taxpay] id5tity        
in=mation ) respect to su* taxpay]4     
7ii7 ,! fil+ /atus ( su* taxpay]4  7iii7
 ,type ( tax return f :i* ! return      

in=mation is provid$4  7iv7 ,! adju/$   
gross income ( su* taxpay]4  7v7 ,total 
numb] ( exemptions claim$1 or total     
numb] ( individuals & dep5d5ts claim$1 z
 applicable1 on ! return4  7vi7 ,numb] (
 *ildr5 ) respect to :i* tax cr$its "u  
section #bd are claim$ on ! return4     
7vii7 ,o!r in=mation det]m9$ to be      
necess>y by agreem5t betwe5 ! ,secret>y 
& ! ,secret>y ( ,education to adm9i/] ! 
,f$]al f9ancial aid programs z requir$  
by ! ,high] ,education ,act ( #aife4    
7,b7 ,f$]al /ud5t f9ancial aid ,!       
,secret>y %all1 ^u writt5 reque/ f !    
,secret>y ( ,education1 disclose to     
(fic]s1 employees1 & contractors ( !    
,dep>tm5t ( ,education1 z specifically  
au?oriz$ & designat$ by ! ,secret>y (   
,education1 only = ! purpose ( 7& to !  
ext5t necess>y 97 det]m9+ eligibility =1
 & am\nt (1 ,f$]al /ud5t f9ancial aid "u
 programs au?oriz$ by title ,,iv ( !    
,high] ,education ,act ( #aife &        
conduct+ analyses & =eca/s = e/imat+    
co/s relat$ to su* programs1 ! foll[+   

return in=mation 7z def9$ 9 subsection  
7b77#b77 ) respect to taxpay]s id5tifi$ 
by ! ,secret>y ( ,education z applicants
 = ,f$]al /ud5t f9ancial aid "u title   
,,iv ( su* ,act1 = taxable ye>s specifi$
 by su* ,secret>y3  7i7 ,taxpay] id5tity
 in=mation ) respect to su* taxpay]4    
7ii7 ,! fil+ /atus ( su* taxpay]4  7iii7
 ,type ( tax return f :i* ! return      
in=mation is provid$4  7iv7 ,! adju/$   
gross income ( su* taxpay]4  7v7 ,!     
am\nt ( any net e>n+s f self-employm5t  
7z def9$ 9 section #adjb71 wages 7z     
def9$ 9 section #caba7;a7 or #cdja7;a771
 & taxable income f a f>m+ bus9ess 7z   
def9$ 9 section #bcf;,a7e77#d77 = !     
p]iod report$ on ! return4  7vi7 ,!     
total income tax ( su* taxpay]4  7vii7  
,total numb] ( exemptions claim$1 or    
total numb] ( individuals & dep5d5ts    
claim$1 z applicable1 on ! return4      
7viii7 ,numb] ( *ildr5 ) respect to :i* 
tax cr$its "u section #bd are claim$ on 
! return4  7ix7 ,am\nt ( any cr$it      
claim$ "u section #be;,a = ! taxable    

ye>4  7x7 ,am\nt ( individual retirem5t 
acc\nt di/ributions n includ$ 9 adju/$  
gross income = ! taxable ye>4  7xi7     
,am\nt ( individual retirem5t acc\nt    
contributions & paym5ts to self-employ$ 
,,sep1 ,keogh1 & o!r qualifi$ plans :i* 
7 d$uct$ f income = ! taxable ye>4      
7xii7 ,! am\nt ( tax-exempt int]e/4     
7xiii7 ,am\nts f retirem5t p5sions &    
annuities n includ$ 9 adju/$ gross      
income = ! taxable ye>4  7xiv7 ,if      
applicable1 ! fact t !re is no return   
fil$ = su* taxpay] = ! applicable ye>4  
7xv7 ,o!r in=mation det]m9$ to be       
necess>y by agreem5t betwe5 ! ,secret>y 
& ! ,secret>y ( ,education to adm9i/] ! 
,f$]al f9ancial aid programs z requir$  
by ! ,high] ,education ,act ( #aife4    
7,c7 ,re/riction on use ( disclos$      
in=mation  7i7 ,9 g5]al ,return         
in=mation disclos$ "u subp>agraphs 7,a7 
& 7,b7 may be us$ by (fic]s1 employees1 
& contractors ( ! ,dep>tm5t (           
,education1 z specifically au?oriz$ &   
designat$ by ! ,secret>y ( ,education1  

only = ! purposes & to ! ext5t necess>y 
describ$ 9 su* subp>agraphs & = mitigat+
 risks 7z def9$ 9 clause 7ii77 relat+ to
 ! programs describ$ 9 su* subp>agraphs4
  7ii7 ,mitigat+ risks ,= purposes ( ?is
 subp>agraph1 ! t]m mitigat+ risks      
means1 ) respect to ! programs describ$ 
9 subp>agraphs 7,a7 & 7,b7-- 7,i7       
analyz+ or e/imat+ co/s associat$ )     
pot5tial *anges to ! ne$-analysis =mula1
  7,,ii7 ov]sight activities by ! ,(fice
 ( ,inspector ,g5]al ( ! ,dep>tm5t (    
,education z au?oriz$ by ! ,inspector   
,g5]al ,act ( #aigh1 z am5d$1  7,,iii7  
develop+ or adm9i/]+ /ati/ical models t 
in=m support to populations ( ,f$]al    
/ud5t loan borr[]s :o are at risk (     
default or del9qu5cy1  7,,iv7 r$uc+ !   
net co/ ( improp] paym5ts to ,f$]al     
f9ancial aid recipi5ts1 &  7,v7 produc+ 
aggregate /ati/ics = report+1 rese>*1 or
 consum] in=mation on ! p]=mance (      
programs or in/itutions ( high]         
education p>ticipat+ 9 ! programs "u    
title ,,iv ( ! ,high] ,education ,act ( 

#aife4  ,su* t]m does n include !       
conduct ( crim9al inve/igations or      
prosecutions4  7iii7 ,r$isclosure to    
in/itutions ( high] education1 ,/ate    
high] education ag5cies1 & designat$    
s*ol>%ip organizations ,! ,secret>y (   
,education1 & (fic]s1 employees1 &      
contractors ( ! ,dep>tm5t ( ,education1 
may disclose return in=mation receiv$ "u
 subp>agraph 7,b71 solely = ! use 9 !   
application1 aw>d1 & adm9i/ration (     
,f$]al /ud5t f9ancial aid1 ,/ate aid1 or
 aid aw>d$ by eligible in/itutions or   
su* entities z ! ,secret>y ( ,education 
may designate1 to ! foll[+ p]sons3  7,i7
 ,an in/itution ( high] education ) :i* 
! ,secret>y ( ,education has an agreem5t
 "u subp>t #a ( "p ,a1 or "p ,d or ,e1 (
 title ,,iv ( ! ,high] ,education ,act (
 #aife4  7,,ii7 ,a ,/ate high] education
 ag5cy4  7,,iii7 ,a s*ol>%ip            
organization :i* is designat$ by !      
,secret>y ( ,education z ( ! date ( !   
enactm5t ( ! ,fa/] ,access to ,f$]al    
,/ud5t ,aid ,act ( #bjah z an           

organization eligible to receive !      
in=mation provid$ "u ?is clause4  ,!    
prec$+ s5t5ce %all only apply to ! ext5t
 t ! taxpay] ) respect to :om ! return  
in=mation relates provides cons5t = su* 
disclosure to ! ,secret>y ( ,education z
 "p ( ! application = ,f$]al /ud5t      
f9ancial aid "u title ,,iv ( ! ,high]   
,education ,act ( #aife4  7,d7 ,requir$ 
notification p]iods  7i7 ,notification  
to ,congress ,! ,secret>y & ! ,secret>y 
( ,education %all issue jo9t            
notifications to ! ,committees on       
,f9ance & ,heal?1 ,education1 ,labor1 & 
,p5sions ( ! ,s5ate & ! ,committees on  
,ways & ,means & ,education & ! ,work=ce
 ( ! ,h\se ( ,repres5tatives n less ?an 
#abj days prior to ! fir/ disclosure (  
any type ( return in=mation "u          
subp>agraph 7,a77vii7 or 7,b77xv7 )     
respect to :i* su* a notification has n 
be5 previ\sly made4  7ii7 ,public notice
 & comm5t ,!re %all be a public notice &
 comm5t p]iod beg9n+ n less ?an #fj days
 prior to ! fir/ disclosure ( any type (

 return in=mation "u subp>agraph        
7,a77vii7 or 7,b77xv7 ) respect to :i*  
su* a notification has n be5 previ\sly  
made1 subsequ5t to ! p]iod allott$ =    
,congressional comm5t "u clause 7i74  4 
7#b7 ,confid5tiality ( return in=mation 
,section #fajc7;a77#c7 ( su* ,code is   
am5d$ by ins]t+ 1 7#ac77;,a71 7#ac77;,b7
 aft] 7#ab74  7#c7 ,con=m+ am5dm5ts     
,section #fajc7p77#d7 ( su* ,code is    
am5d$--  7,a7 by ins]t+ 7,a71 7#ac77;,b7
 aft] 7#ac7 ea* place x occurs1 &  7,b7 
by ins]t+ 1 7#ac77;,a71 7#ac77;,b7 aft] 
7l77#aj7 ea* place x occurs4  7b7       
,effective date ,! am5dm5ts made by ?is 
section %all apply to disclosures made  
"u section #fajc7l77#ac7 ( ! ,int]nal   
,rev5ue ,code ( #aihf 7z am5d$ by ?is   
section7 aft] ! date ( ! enactm5t ( ?is 
,act4  #c4 ,notification ( reque/ = tax 
return in=mation  7a7 ,9 g5]al ,"p ,g ( 
title ,,iv ( ! ,high] ,education ,act ( 
#aife 7#bj ,u4,s4,c4 #ajhh et seq47 is  
am5d$ by add+ at ! end ! foll[+3  #did4 
,notification ( reque/ = tax return     

in=mation ,! ,secret>y %all advise      
/ud5ts & borr[]s :o submit an           
application = ,f$]al /ud5t f9ancial aid 
"u ?is title or = ! dis*>ge ( a loan    
bas$ on p]man5t & total disability1 z   
describ$ 9 section #dcg7;a71 or :o      
reque/ an income-cont+5t or income-bas$ 
repaym5t plan on _! loan 7z well z p>5ts
 & sp\ses :o sign su* an application or 
reque/ or a ,ma/] ,promissory ,note on  
behalf ( ^? /ud5ts & borr[]s7 t !       
,secret>y has ! au?ority to reque/ t !  
,int]nal ,rev5ue ,s]vice disclose _! tax
 return in=mation 7z well z t ( p>5ts & 
sp\ses :o sign su* an application or    
reque/ or a ,ma/] ,promissory ,note on  
behalf ( ^? /ud5ts & borr[]s7 to (fic]s1
 employees1 & contractors ( ! ,dep>tm5t 
( ,education z au?oriz$ "u section      
#fajc7a77ac7 ( ! ,int]nal ,rev5ue ,code 
( #aihf1 to ! ext5t necess>y = !        
,secret>y to c>ry out ?is title4  4  7b7
 ,con=m+ am5dm5t ,section #dhd7q7 ( !   
,high] ,education ,act ( #aife 7#bj     
,u4,s4,c4 #ajia7q77 is am5d$ to read z  

foll[s3  7q7 res]v$  4  #d4 ,reports on 
implem5tation  7a7 ,9 g5]al ,n lat] ?an 
ea* specifi$ date1 ! ,secret>y (        
,education & ! ,secret>y ( ! ,treasury  
%all issue jo9t reports to ! ,committees
 on ,heal?1 ,education1 ,labor1 &       
,p5sions & ,f9ance ( ! ,s5ate & !       
,committees on ,education & ! ,work=ce &
 ,ways & ,means ( ! ,h\se (             
,repres5tatives reg>d+ ! am5dm5ts made  
by ?is ,act4 ,ea* su* report %all       
include1 z applicable--  7#a7 an update 
on ! /atus ( implem5tation ( ! am5dm5ts 
made by ?is ,act1  7#b7 an evaluation ( 
! process+ ( applications = ,f$]al /ud5t
 f9ancial aid1 & applications =         
income-bas$ repaym5t & income cont+5t   
repaym5t1 "u title ,,iv ( ! ,high]      
,education ,act ( #aife 7#bj ,u4,s4,c4  
#ajgj et seq471 9 accordance ) !        
am5dm5ts made by ?is ,act1 &  7#c7      
implem5tation issues & sugge/ions =     
pot5tial improvem5ts4  7b7 ,specifi$    
date ,= purposes ( subsection 7a71 ! t]m
 specifi$ date means--  7#a7 ! date t is

 #ij days aft] ! date ( ! enactm5t ( ?is
 ,act1  7#b7 ! date t is #abj days aft] 
! fir/ day t ! disclosure process       
e/abli%$ "u section #fajc7l77#ac7 ( !   
,int]nal ,rev5ue ,code ( #aihf1 z am5d$ 
by section #b7;a7 ( ?is ,act1 is        
op]ational & accessible to (fic]s1      
employees1 & contractors ( ! ,dep>tm5t (
 ,education 7z specifically au?oriz$ &  
designat$ by ! ,secret>y ( ,education71 
&  7#c7 ! date t is #a ye> aft] ! report
 date describ$ 9 p>agraph 7#b74