,,ii #aaeth ,,congress #ast ,session ,s4 #fae ,,in ,,the ,,senate ,,of ,,the ,,united ,,states ,march #ac1 #bjag,mr4 ,bennet 7for himself and ,mr4 ,rubio7 introduced the following bill2 which was read twice and referred to the ,committee on ,health1 ,education1 ,labor1 and ,pensions ,a ,,bill ,to establish an alternative1 outcomes-based process for authorizing innovative1 high-quality higher education providers to participate in programs under title ,,iv of the ,higher ,education ,act of #aife4 #a4 ,short title ,this ,act may be cited as the ,higher ,education ,innovation ,act4 #b4 ,alternative authorization system ,part ,h of title ,,iv of the ,higher ,education ,act of #aife 7#bj ,u4,s4,c4 #ajii;a et seq47 is amended by adding at the end the following3 #d ,alternative authorization system #dih;,c4 ,alternative authorization system 7a7 ,definitions ,in this section3 7#a7 ,innovation authorizer ,the term innovation authorizer or authorizer means an entity that has been approved by the ,secretary to carry out authorization of eligible entities4 7#b7 ,eligible entity ,the term eligible entity means an institution of higher education or another entity that-- 7,a7 promotes and supports student success outcomes and cost-effectiveness in postsecondary education2 7,b7 provides an educational program-- 7i7 that leads to a degree or certificate2 7ii7 of course bundles2 or 7iii7 that leads to an industry-recognized credential that meets the requirements for licensing in the relevant field2 7,c7 agrees to specified outcome-based oversight and reporting requirements described in this section2 7,d7 demonstrates that the entity provides high-quality education by meeting or exceeding the minimum thresholds for each of the performance metrics that are required by the innovation authorizer in accordance with subsection 7b7 and which are developed in accordance with subsection 7d72 7,e7 meets the definition of an institution of higher education under section #aja or #ajb1 except that the entity need not meet the requirements described in-- 7i7 section #aja7;a77#e72 7ii7 section #ajb7;b77#a77;,a77ii77,,ii72 or 7iii7 #ajb7;b77#a77;,d72 and 7,f7 meets the other requirements for participation in this title4 7#c7 ,teach-out plan ,the term teach-out plan means a written plan that provides for the equitable treatment of students if an eligible entity ceases to operate before all students have completed their program of study1 and may include1 if required by the ,secretary1 an agreement between eligible entities or between an eligible entity and another institution for such a teach-out plan4 7#d7 ,course bundle ,the term course bundle means a series of courses1 or the equivalent1 that lead to-- 7,a7 proficiency in a set of marketable skills or competencies2 or 7,b7 an industry-recognized credential that meets the requirements for licensing in the relevant field4 7#e7 ,completion ,the term completion means-- 7,a7 in the case of a course bundle-- 7i7 completion of a series of courses-- 7,i7 that lead to proficiency in a set of marketable skills or competencies2 or 7,,ii7 that result in an industry-recognized credential that meets the requirements for licensing in the relevant field2 or 7ii7 successful completion of a set of assessments-- 7,i7 that demonstrates proficiency in a set of marketable skills or competencies2 or 7,,ii7 that results in an industry-recognized credential that meets the requirements for licensing in the relevant field2 and 7,b7 in the case of a program leading to a certificate or degree1 receipt of the certificate or degree4 7b7 ,approval of innovation authorizers 7#a7 ,in general ,the ,secretary shall establish a process for approving innovation authorizers to carry out the authorization of eligible entities4 7#b7 ,request for applications ,not later than #bge days after the date of enactment of this subpart1 the ,secretary shall publish a request for applications from entities that desire to become innovation authorizers4 ,any accrediting agency or association currently recognized by the ,secretary or any entity not currently recognized by the ,secretary may apply to be approved as innovation authorizers4 7#c7 ,application ,requirements ,an entity that desires to be approved by the ,secretary as an innovation authorizer under paragraph 7#a7 shall submit an application to the ,secretary that includes the following information3 7,a7 ,information on the entity's prior experience as an authorizer1 accreditor1 programmatic accreditor1 or industry validator1 or strong evidence and history that demonstrates the entity is equipped to be a high-quality authorizer4 7,b7 ,an explanation of why the entity is qualified and capable of being an innovation authorizer1 accompanied by supporting documentation4 7,c7 ,evidence that the entity is financially able to meet the requirements for authorizing eligible entities1 including the requirements under paragraph 7#g74 7,d7 ,a description of the process that the entity will use for awarding authorization1 and suspending or revoking an eligible entity's authorization1 including-- 7i7 the performance metrics the authorizer will use in making determinations about authorization1 which shall meet the requirements described under subsection 7d72 7ii7 the minimum threshold for each performance metric described in clause 7i71 which shall require an eligible entity to meet or exceed the #fjth-percentile student outcome for each such performance metric in order to be awarded authorization by the innovation authorizer2 7iii7 any other criteria or metrics that the entity will use as an innovation authorizer to award authorization status to an eligible entity1 if applicable2 and 7iv7 the process for-- 7,i7 monitoring authorized eligible entities1 ensuring that each eligible entity continues to meet the criteria for authorization 7including the threshold for each applicable performance metric as described in clause 7ii772 and 7,,ii7 ensuring the accuracy and validity of data4 7,e7 ,a description of the entity's area of educational or subject matter focus1 if applicable4 7,f7 ,the composition or membership of the entity that seeks to become an innovation authorizer1 and the entity's relationship or work with applicable industries and businesses4 7,g7 ,a demonstration that the entity has-- 7i7 clear and effective controls to protect against conflicts of interest1 or the appearance of conflicts of interest1 between the entity that wishes to be an innovation authorizer and eligible entities 7including controls regarding potential conflicts of interest between board members1 commissioners1 evaluation team members1 consultants1 administrative staff1 and other representatives of the entity that wishes to be an authorizer and eligible entities72 and 7ii7 requirements to ensure that1 as an authorizer1 the entity and the staff1 and representatives of the entity will be separate and independent 7as defined in section #dif7;b771 both administratively and financially1 from any eligible entities and will receive no benefit1 financial or otherwise1 from authorizing an eligible entity4 7,h7 ,an agreement that the entity will make applicable authorization data1 documents1 and determinations publicly available4 7#d7 ,dissemination of information ,for the purpose of determining minimum thresholds for performance metrics under paragraph 7#c77;,d77ii7 and subsection 7d77#a77;,b71 the ,secretary shall-- 7,a7 disseminate to innovation authorizers1 on an annual basis1 information about #fjth-percentile student outcomes on the performance criteria described under subsection 7d71 in the aggregate for all students and disaggregated by student income quartile and field of study2 and 7,b7 provide the information described in subparagraph 7,a7 to an innovation authorizer or an entity that wishes to apply to become an innovation authorizer upon request4 7#e7 ,limitation1 ,suspension1 or termination of authorizer approval 7,a7 ,notice and opportunity for correction ,if the ,secretary determines that an innovation authorizer has failed to apply and effectively enforce the performance criteria1 including the minimum thresholds for such criteria1 specified in the innovation authorizer's application under paragraph 7#c7 in awarding1 monitoring1 and revoking authorization status for eligible entities1 the ,secretary shall provide notice to the innovation authorizer and give the innovation authorizer a #f-month period to apply and enforce the performance criteria and minimum thresholds described in the innovation authorizer's application under paragraph 7#c74 7,b7 ,limitation1 suspension1 or termination ,if1 after the #f-month period described in subparagraph 7,a71 the ,secretary determines that an innovation authorizer has still failed to effectively enforce the performance criteria and minimum thresholds specified in that innovation authorizer's application under paragraph 7#c71 the ,secretary shall limit1 suspend1 or terminate the recognition of that innovation authorizer4 7#f7 ,loss of authorizer approval ,in the case of an eligible entity authorized by an innovation authorizer whose recognition has been limited1 suspended1 or terminated by the ,secretary-- 7,a7 if the eligible entity successfully demonstrates to the ,secretary that the eligible entity meets the performance criteria and minimum thresholds that such authorizer specified in its application under paragraph 7#c71 the eligible entity shall have #f months to apply for accreditation by another accrediting agency or association or authorization by another innovation authorizer2 or 7,b7 the eligible entity shall prepare a teach-out plan that meets the ,secretary's regulations for teach-out plans and shall submit such plan to the ,secretary4 7#g7 ,authorizer risk sharing ,each innovation authorizer shall enter into an agreement with the ,secretary whereby the innovation authorizer agrees to pay the ,secretary an amount equal to not less than #be percent of the amount of ,federal student loans that are held by current and former students of any eligible entity authorized by the innovation authorizer under subsection 7d7 and that are in default each fiscal year4 7c7 ,eligibility for federal pell grant funding ,eligible entities that are authorized by an innovation authorizer shall be eligible to receive ,federal ,pell ,grant funding in accordance with subsection 7f74 7d7 ,authorization by an innovation authorizer 7#a7 ,authorization process 7,a7 ,in ,general ,an innovation authorizer may authorize an eligible entity1 if-- 7i7 that eligible entity meets the criteria under subsection 7a77#b72 and 7ii7 in the case of-- 7,i7 an eligible entity that has not carried out an educational program for more than #b years1 the eligible entity agrees to1 and describes a high-quality1 evidence-based plan to1 meet within #b years the specific performance metrics and minimum thresholds required by the innovation authorizer in accordance with subsection 7b77#c77;,d72 and 7,,ii7 an eligible entity that has carried out an educational program for more than #b years1 the eligible entity demonstrates that the eligible entity meets the specific performance metrics and minimum thresholds required by the innovation authorizer in accordance with subsection 7b77#c77;,d74 7,b7 ,performance metrics 7i7 ,in ,general ,in accordance with subparagraph 7,c71 each innovation authorizer shall-- 7,i7 use1 in order to determine whether to award authorization to an eligible entity1 not less than-- 7aa7 #a performance metric relating to student learning1 as described in clause 7ii72 7bb7 the performance metric relating to completion1 as described in clause 7iii72 and 7cc7 #b performance metrics relating to the benefit to the student and affordability1 as described in clause 7iv72 7,,ii7 establish the minimum thresholds for each performance metric that the eligible entity must meet or exceed in order to be authorized by the authorizer in accordance with subsection 7b77#c77;,d77ii71 ensuring that each minimum threshold meets or exceeds the #fjth-percentile student outcome for the performance metric2 and 7,,iii7 in the determination about whether an eligible entity meets the required threshold for authorization for each performance metric1 include data from all students who enroll in the eligible entity4 7ii7 ,student learning ,the performance metrics relating to student learning are the following3 7,i7 ,a nationally defined1 demonstrated1 objective1 and verifiable measure of student learning1 including a measure of the knowledge or skills gained by the student from the educational program or institution4 7,,ii7 ,demonstrated quality based on an evaluation conducted by an independent evaluator that uses evaluation criteria approved by the ,what ,works ,clearinghouse of the ,institute of ,education ,sciences and shows statistically significant increases in student learning4 7,,iii7 ,pass rates and overall scores on qualifying or licensing examinations4 7iii7 ,completion 7,i7 ,in ,general ,the performance metric relating to completion is the percentage of all students who complete the educational program and each program of study in-- 7aa7 #ajj percent of the normal time for completion of each program of study2 7bb7 #aej percent of the normal time for completion of each program of study2 and 7cc7 #bjj percent of the normal time for completion of each program of study4 7,,ii7 ,transfer students ,in determining the percentage under subclause 7,i71 an eligible entity may include the students in each program of study who transfer and successfully complete a program of study4 7iv7 ,benefit to student and affordability ,the performance metrics relating to benefit to the student and affordability are the following3 7,i7 ,rates of employment or enrollment in and completion of graduate or professional school4 7,,ii7 ,increases in income for students4 7,,iii7 ,the cost of tuition and fees1 the net price disaggregated by income quintile and educational program1 and the median total loan debt accrued by students who were enrolled in the eligible entity4 7,,iv7 ,student loan repayment rates for ,federal and private student loans1 if applicable4 7,v7 ,median income of students who were enrolled in the eligible entity4 7,c7 ,data source ,when an innovation authorizer uses data about income or employment1 as described in subparagraph 7,b77iv71 the following provisions shall apply3 7i7 ,the innovation authorizer shall use wage data gathered in accordance with clauses 7iii7 and 7iv7 and shall disaggregate such data 7except that such disaggregation shall not be required in a case in which the results would reveal personally identifiable information about an individual student71 by-- 7,i7 educational program based on the ,classification of ,instructional ,programs ,code developed by the ,national ,center for ,education ,statistics2 7,,ii7 credential received2 7,,iii7 noncompleters2 7,,iv7 eligible entity2 and 7,v7 ,state and region of employment4 7ii7 ,the innovation authorizer shall include data for-- 7,i7 #a year after educational program completion2 7,,ii7 #c years after educational program completion2 and 7,,iii7 #e years after educational program completion4 7iii7 ,notwithstanding any other provision of law1 the ,secretary1 in cooperation with the ,commissioner of ,social ,security1 and each eligible entity whose wage data will be evaluated in accordance with subparagraph 7,b77iv7 shall establish a system through which relevant data may be retrieved from the ,social ,security ,administration1 including data on median annual earnings and employment metrics4 7iv7 ,the ,secretary1 innovation authorizers1 and eligible entities shall not share personally identifiable information of a student in carrying out this subparagraph1 except as necessary to enable individuals who are employed by the ,department to meet the reporting requirements and data dissemination purposes and requirements under this ,act4 7,d7 ,transparency ,notwithstanding the specific performance metrics used by any specific authorizer1 each authorized eligible entity shall make public and disaggregate information on all of the metrics described under subparagraph 7,b7 for the eligible entity as a whole and for each educational program of the eligible entity1 as applicable4 7#b7 ,renewing authorization ,an innovation authorizer shall require each eligible entity that has been authorized by the innovation authorizer to have the eligible entity's authorization renewed not later than #b years after the eligible entity is first authorized1 and not later than every #e years thereafter4 7#c7 ,loss of authorization 7,a7 ,in general ,an innovation authorizer shall remove an eligible entity from authorized status if1 for #b consecutive calendar years1 that eligible entity falls below the minimum threshold for any performance metric required for authorization by the innovation authorizer in accordance with subsection 7b77#c77;,d74 7,b7 ,petition to regain authorization ,an eligible entity that is removed from authorized status may petition an innovation authorizer to regain authorization by demonstrating to the innovation authorizer that the eligible entity is ensuring quality and student success and has met1 and will continue to meet1 the minimum thresholds for each performance metric required for authorization by the innovation authorizer in accordance with subsection 7b77#c77;,d74 7#d7 ,accreditation deemed ,authorization by an innovation authorizer approved by the ,secretary under this section shall be deemed recognized accreditation for purposes of title ,,iv4 7e7 ,accreditation and authorization2 changing accreditors or authorizers 7#a7 ,accreditation and authorization ,an eligible entity that otherwise meets the requirements for authorization by an innovation authorizer and the requirements for accreditation by a recognized accrediting agency or association may hold accreditation and authorization from both entities4 7#b7 ,changing accreditors or authorizers ,an eligible entity that otherwise meets the relevant requirements for accreditation or authorization may notify the ,secretary and change accreditation or authorization status-- 7,a7 from an innovation authorizer to a recognized accrediting agency or association2 or 7,b7 from a recognized accrediting agency or association to an innovation authorizer4 7f7 ,eligibility for ,federal pell grant funding 7#a7 ,authorizer ,federal ,pell ,grant funding requirements 7,a7 ,aggregate innovation authorizer ,federal ,pell ,grant cap 7i7 ,individual authorizer cap ,the ,secretary shall determine1 in accordance with subparagraph 7,b7 for each award year and for each innovation authorizer1 the total maximum amount of ,federal ,pell ,grant funds that all eligible entities that are authorized by a given innovation authorizer may receive through tuition and fee payments from enrolled students who receive a ,federal ,pell ,grant4 7ii7 ,aggregate authorizer cap ,the ,secretary shall determine each innovation authorizer ,federal ,pell ,grant cap1 as described in clause 7i71 in a manner that ensures that the aggregate amount of ,federal ,pell ,grant funds that all eligible entities authorized by all innovation authorizers receive each year does not exceed #j4e percent of total ,federal ,pell ,grant funding for the previous award year4 7,b7 ,individual innovation authorizer ,federal pell grant cap ,the ,secretary shall determine each innovation authorizer's cap under subparagraph 7,a77i7 based on-- 7i7 the authorizer's experience and track record of awarding authorization to eligible entities2 and 7ii7 the performance criteria and minimum thresholds that the authorizer uses in determining whether to award authorization to eligible entities1 as specified in subsection 7b77#c77;,d74 7#b7 ,eligible entity ,federal ,pell ,grant funding requirements 7,a7 ,in general ,an eligible entity that is authorized by an innovation authorizer in accordance with this section is eligible to receive ,federal ,pell ,grant funds in accordance with subparagraphs 7,b71 7,c71 and 7,d74 7,b7 ,eligible entity total cap on federal pell grant funding ,each award year1 an eligible entity described in subparagraph 7,a7 will be eligible to receive 7through tuition and fee payments from enrolled students7 a maximum total amount of ,federal ,pell ,grant funding that-- 7i7 shall be determined by the innovation authorizer2 7ii7 shall be determined in a manner so as to ensure that the innovation authorizer does not exceed the innovation authorizer's ,federal ,pell ,grant cap2 7iii7 shall be based on the eligible entity's history and track record of meeting or exceeding the relevant performance metrics minimum thresholds2 and 7iv7 shall not exceed #ae percent of total ,federal ,pell ,grant funding for eligible entities authorized by the innovation authorizer for the previous award year4 7,c7 ,federal ,pell ,grant allocations 7i7 ,full ,federal pell grant ,an eligible entity authorized by an innovation authorizer that provides validated documentation from an independent evaluator that the eligible entity has met or exceeded the minimum thresholds for each of the authorizer's performance metrics for at least #e consecutive years shall be eligible to receive up to the full amount of ,federal ,pell ,grant funding that each enrolled student is eligible to receive1 subject to the cap described in subparagraph 7,b74 7ii7 #ej-percent reimbursement ,federal pell grant ,an eligible entity authorized by an innovation authorizer that provides validated documentation from an independent evaluator that the eligible entity has met or exceeded the minimum thresholds for each of the authorizer's performance metrics for at least #c consecutive years but less than #e consecutive years and has been determined by such authorizer to have a strong evidence basis for continuing to annually meet such minimum thresholds for each performance metric shall be eligible for a pay for performance contract with the following terms3 7,i7 ,the eligible entity shall be eligible to receive up to #ej percent of the amount of ,federal ,pell ,grant funding that each enrolled student is eligible to receive1 subject to the cap described in subparagraph 7,b74 7,,ii7 ,the eligible entity shall provide a bond or matching funds to pay for the remaining #ej percent of the amount of ,federal ,pell ,grant funding that each enrolled student is otherwise eligible to receive4 7,,iii7 ,the ,secretary shall reimburse the eligible entity for an amount equal to the amount that the eligible entity provided under subclause 7,,ii7 for each enrolled student1 except that such amount may not exceed the remaining cost of tuition and fees for each student-- 7aa7 for whom the eligible entity provided matching funds as described in subclause 7,,ii72 and 7bb7 who successfully completes the educational program4 7iii7 #ge-percent reimbursement ,federal pell grant ,an eligible entity authorized by an innovation authorizer that provides validated documentation from an independent evaluator that the eligible entity has met or exceeded the minimum thresholds for each of the authorizer's performance metrics for at least #a year but less than #c consecutive years and has been determined by such authorizer to have a strong evidence basis for continuing to annually meet such minimum thresholds for each performance metric shall be eligible for a pay for performance contract with the following terms3 7,i7 ,the eligible entity shall be eligible to receive up to #be percent of the amount of ,federal ,pell ,grant funding that each enrolled student is eligible to receive1 subject to the cap described in subparagraph 7,b74 7,,ii7 ,the eligible entity shall provide-- 7aa7 a bond for #be percent of the amount of ,federal ,pell ,grant funding that each enrolled student is otherwise eligible to receive2 and 7bb7 a bond or matching funds for the remaining #ge percent of the amount of ,federal ,pell ,grant funding that each enrolled student is otherwise eligible to receive4 7,,iii7 ,if the eligible entity meets the minimum thresholds for each of the authorizer's performance metrics for #b consecutive years after the date of the pay for performance contract1 the ,secretary shall reimburse the eligible entity for an amount equal to the amount that the eligible entity provided under subclause 7,,ii77bb7 for each enrolled student1 except that such amount may not exceed the remaining cost of tuition and fees for each student-- 7aa7 for whom the eligible entity provided matching funds as described in subclause 7,,ii77bb72 and 7bb7 who successfully completes the educational program4 7,,iv7 ,if the eligible entity fails to meet the minimum thresholds for each of the authorizer's performance criteria for #b consecutive years after the date of the contract1 the eligible entity shall reimburse the ,federal ,government in an amount equal to the amount described in subclause 7,i74 7iv7 #ajj-percent reimbursement ,federal pell grant ,an eligible entity that has no track record of meeting1 exceeding1 or failing to meet the minimum thresholds for each of the authorizer's performance metrics1 and that has been determined by an innovation authorizer to have a strong and rigorous evidence base demonstrating an ability to consistently and annually meet or exceed the minimum thresholds for each of the performance metrics of that innovation authorizer shall be eligible for a pay for performance contract with the following terms3 7,i7 ,the eligible entity shall provide funds equal to #ajj percent of the amount of ,federal ,pell ,grant funding that each enrolled student is otherwise eligible to receive4 7,,ii7 ,if the eligible entity meets the minimum thresholds for each of the authorizer's performance metrics for #b consecutive years after the date of the pay for performance contract1 the ,secretary shall reimburse the eligible entity for an amount equal to the amount that the eligible entity provided under subclause 7,i7 for each enrolled student1 except that such amount may not exceed the remaining cost of tuition and fees for each student-- 7aa7 for whom the eligible entity provided funds as described in subclause 7,i72 and 7bb7 who successfully completes the educational program4 7,d7 ,federal pell grant amount treated as payment ,notwithstanding the actual amount of ,federal ,pell ,grant funding that an eligible entity receives 7which1 in accordance with subparagraphs 7,b7 and 7,c71 may not be the full amount of ,federal ,pell ,grant funding that each enrolled student who is eligible for a ,federal ,pell ,grant is eligible to receive71 an eligible entity-- 7i7 shall treat each student as having paid the total amount of ,federal ,pell ,grant funding for which the student is eligible2 7ii7 shall not charge students additional tuition or fees to compensate for any amount of ,federal ,pell ,grant funding for which the eligible entity-- 7,i7 must provide a bond or matching funds or for which the eligible entity otherwise must wait for reimbursement under subparagraph 7,c72 or 7,,ii7 may fail to receive due to a cap described under subparagraph 7,b72 and 7iii7 shall not charge a higher amount of tuition or fees to a student who is eligible for a ,federal ,pell ,grant4 7,e7 ,rule of construction ,nothing in subparagraph 7,d7 shall be construed as prohibiting an eligible entity from reducing the amount of tuition and fees the eligible entity charges to a student who is eligible for a ,federal ,pell ,grant based on student need4 7,f7 ,students exceeding cap ,an eligible entity may elect to enroll students whose collective eligibility for ,federal ,pell ,grants would otherwise result in the eligible entity exceeding the cap under subparagraph 7,b7 but such eligible entity shall comply with subparagraph 7,d74 7#c7 ,federal ,pell ,grant eligibility for students 7,a7 ,in ,general ,a student may receive a ,federal ,pell ,grant and use funding from such grant to attend an eligible entity or a program of an eligible entity that is authorized by an innovation authorizer under this subpart if the student meets the other requirements for receiving a ,federal ,pell ,grant1 as described in section #dja4 7,b7 ,eligibility period ,for the purpose of calculating a student's remaining period of eligibility for ,federal ,pell ,grant funding under section #dja7;c71 the ,secretary shall consider only ,federal ,pell ,grant funding actually paid to an eligible entity on behalf of the student1 in accordance with subparagraphs 7,b7 and 7,c7 of paragraph 7#b74 7g7 ,access to title ,,iv funding 7#a7 ,continuation of title ,,iv eligibility ,an institution of higher education that was eligible to participate in1 and receive funding under1 this title prior to seeking and gaining authorization under this section may petition the ,secretary to continue to be eligible to receive loans made under this title if the institution is an eligible entity described under clause 7i7 or 7ii7 of subsection 7f77#b77;,c74 7#b7 ,recommendations ,not later than #b years after the date of enactment of this subpart1 the ,secretary1 in consultation with innovation authorizers1 eligible entities1 and stakeholders1 shall make recommendations to ,congress regarding a process for providing all eligible entities with access to loans made under this title4 7h7 ,reports 7#a7 ,reports from authorized eligible entities to innovation authorizers ,each eligible entity that is authorized by an innovation authorizer shall prepare and submit an annual report to the innovation authorizer containing such information as that innovation authorizer may require4 7#b7 ,reports from innovation authorizers to the ,secretary ,each innovation authorizer shall prepare and submit an annual report to the ,secretary containing such information as the ,secretary may require4 4 #c4 ,termination of appropriations ,no funds shall be authorized to carry out this ,act1 including the amendments made by this ,act1 #e years after the date of enactment of this ,act4 #d4 ,termination of authorization ,subpart #d of part ,h of title ,,iv of the ,higher ,education ,act of #aife1 as added by section #b1 shall expire on the date that is #e years after the date of enactment of this ,act4