,in the ,senate of the ,united ,states1 
,december #e1 #bjai4  ,amendment3  ,that
 the bill from the ,house of            
,representatives 7,h4,r4 #bdhf7 entitled
 ,an ,act to reauthorize mandatory      
funding programs for historically ,black
 colleges and universities and other    
minority-serving institutions41 do pass 
with the following ,strike all after the
 enacting clause and insert the         
following3 #a4 ,short title2 references 
7a7 ,short title ,this ,act may be cited
 as the ,fostering ,undergraduate       
,talent by ,unlocking ,resources for    
,education ,act or the ,,future ,act4   
7b7 ,references ,except as otherwise    
expressly provided1 whenever in this    
,act an amendment or repeal is expressed
 in terms of an amendment to1 or repeal 
of1 a section or other provision1 the   
reference shall be considered to be made
 to a section or other provision of the 
,higher ,education ,act of #aife 7#bj   
,u4,s4,c4 #ajja et seq474  #b4          
,continued support for minority-serving 

institutions ,section #cga7;b77#a77;,a7 
7#bj ,u4,s4,c4 #ajfgq7b77#a77;,a77 is   
amended by striking for each of the     
fiscal years #bjjh through #bjai4 and   
all that follows through the end of the 
subparagraph and inserting for fiscal   
year #bjbj and each fiscal year         
thereafter44  #c4 ,secure disclosure of 
tax-return information to carry out the 
,higher ,education ,act of #aife  7a7   
,amendments to the ,internal ,revenue   
,code of #aihf  7#a7 ,in general        
,paragraph 7#ac7 of section #fajc7l7 of 
the ,internal ,revenue ,code of #aihf is
 amended to read as follows3  7#ac7     
,disclosure of return information to    
carry out the ,higher ,education ,act of
 #aife  7,a7 ,income-contingent or      
income-based repayment and total and    
permanent disability discharge ,the     
,secretary shall1 upon written request  
from the ,secretary of ,education1      
disclose to officers1 employees1 and    
contractors of the ,department of       
,education1 as specifically authorized  

and designated by the ,secretary of     
,education1 only for the purpose of 7and
 to the extent necessary in7            
establishing enrollment1 renewing       
enrollment1 administering1 and          
conducting analyses and forecasts for   
estimating costs related to             
income-contingent or income-based       
repayment programs1 and the discharge of
 loans based on a total and permanent   
disability 7within the meaning of       
section #dcg7;a7 of the ,higher         
,education ,act of #aife71 under title  
,,iv of the ,higher ,education ,act of  
#aife1 the following return information 
7as defined in subsection 7b77#b77 with 
respect to taxpayers identified by the  
,secretary of ,education as             
participating in the loan programs under
 title ,,iv of such ,act1 for taxable   
years specified by such ,secretary3 7i7 
,taxpayer identity information with     
respect to such taxpayer4  7ii7 ,the    
filing status of such taxpayer4  7iii7  
,the adjusted gross income of such      

taxpayer4  7iv7 ,total number of        
exemptions claimed1 or total number of  
individuals and dependents claimed1 as  
applicable1 on the return4  7v7 ,number 
of children with respect to which tax   
credits under section #bd are claimed on
 the return4  7,b7 ,federal student     
financial aid ,the ,secretary shall1    
upon written request from the ,secretary
 of ,education1 disclose to officers1   
employees1 and contractors of the       
,department of ,education1 as           
specifically authorized and designated  
by the ,secretary of ,education1 only   
for the purpose of 7and to the extent   
necessary in7 determining eligibility   
for1 and amount of1 ,federal student    
financial aid under programs authorized 
by parts ,a1 ,c1 and ,d of title ,,iv of
 the ,higher ,education ,act of #aife   
7as in effect on the date of the        
enactment of the ,fostering             
,undergraduate ,talent by ,unlocking    
,resources for ,education ,act7 and     
conducting analyses and forecasts for   

estimating costs related to such        
programs1 the following return          
information 7as defined in subsection   
7b77#b77 with respect to taxpayers      
identified by the ,secretary of         
,education as applicants for ,federal   
student financial aid under such parts  
of title ,,iv of such ,act1 for taxable 
years specified by such ,secretary3 7i7 
,taxpayer identity information with     
respect to such taxpayer4  7ii7 ,the    
filing status of such taxpayer4  7iii7  
,the adjusted gross income of such      
taxpayer4  7iv7 ,the amount of any net  
earnings from self-employment 7as       
defined in section #adjb71 wages 7as    
defined in section #caba7;a7 or         
#cdja7;a771 taxable income from a       
farming business 7as defined in section 
#bcf;,a7e77#d771 and investment income  
for the period reported on the return4  
7v7 ,the total income tax of such       
taxpayer4  7vi7 ,total number of        
exemptions claimed1 or total number of  
individuals and dependents claimed1 as  

applicable1 on the return4  7vii7       
,number of children with respect to     
which tax credits under section #bd are 
claimed on the return4  7viii7 ,amount  
of any credit claimed under section     
#be;,a for the taxable year4  7ix7      
,amount of individual retirement account
 distributions not included in adjusted 
gross income for the taxable year4  7x7 
,amount of individual retirement account
 contributions and payments to          
self-employed ,,sep1 ,keogh1 and other  
qualified plans which were deducted from
 income for the taxable year4  7xi7 ,the
 amount of tax-exempt interest4  7xii7  
,amounts from retirement pensions and   
annuities not included in adjusted gross
 income for the taxable year4  7xiii7   
,if applicable1 the fact that any of the
 following schedules 7or equivalent     
successor schedules7 were filed with the
 return3 7,i7 ,schedule ,a4  7,,ii7     
,schedule ,b4  7,,iii7 ,schedule ,d4    
7,,iv7 ,schedule ,e4  7,v7 ,schedule ,f4
  7,,vi7 ,schedule ,h4  7xiv7 ,if       

applicable1 the fact that ,schedule ,c  
7or an equivalent successor schedule7   
was filed with the return showing a gain
 or loss greater than #aj1jjj4  7xv7 ,if
 applicable1 the fact that there is no  
return filed for such taxpayer for the  
applicable year4  7,c7 ,restriction on  
use of disclosed information  7i7 ,in   
general ,return information disclosed   
under subparagraphs 7,a7 and 7,b7 may be
 used by officers1 employees1 and       
contractors of the ,department of       
,education1 as specifically authorized  
and designated by the ,secretary of     
,education1 only for the purposes and to
 the extent necessary described in such 
subparagraphs and for mitigating risks  
7as defined in clause 7ii77 relating to 
the programs described in such          
subparagraphs4  7ii7 ,mitigating risks  
,for purposes of this subparagraph1 the 
term mitigating risks means1 with       
respect to the programs described in    
subparagraphs 7,a7 and 7,b71 7,i7       
oversight activities by the ,office of  

,inspector ,general of the ,department  
of ,education as authorized by the      
,inspector ,general ,act of #aigh1 as   
amended1 and  7,,ii7 reducing the net   
cost of improper payments to ,federal   
financial aid recipients4  ,such term   
does not include the conduct of criminal
 investigations or prosecutions4  7iii7 
,redisclosure to institutions of higher 
education1 ,state higher education      
agencies1 and designated scholarship    
organizations ,the ,secretary of        
,education1 and officers1 employees1 and
 contractors of the ,department of      
,education1 may disclose return         
information received under subparagraph 
7,b71 solely for the use in the         
application1 award1 and administration  
of student financial aid or aid awarded 
by such entities as the ,secretary of   
,education may designate1 to the        
following persons3 7,i7 ,an institution 
of higher education with which the      
,secretary of ,education has an         
agreement under subpart #a of part ,a1  

part ,c1 or part ,d of title ,,iv of the
 ,higher ,education ,act of #aife4      
7,,ii7 ,a ,state higher education       
agency4  7,,iii7 ,a scholarship         
organization which is designated by the 
,secretary of ,education as of the date 
of the enactment of the ,fostering      
,undergraduate ,talent by ,unlocking    
,resources for ,education ,act as an    
organization eligible to receive the    
information provided under this clause4 
,the preceding sentence shall only apply
 to the extent that the taxpayer with   
respect to whom the return information  
relates provides consent for such       
disclosure to the ,secretary of         
,education as part of the application   
for ,federal student financial aid under
 title ,,iv of the ,higher ,education   
,act of #aife4  7,d7 ,requirement of    
notification of request for tax return  
information ,subparagraphs 7,a7 and 7,b7
 shall apply to any disclosure of return
 information with respect to a taxpayer 
only if the ,secretary of ,education has

 provided to such taxpayer the          
notification required by section #did of
 the ,higher ,education ,act of #aife   
prior to such disclosure4  4  7#b7      
,confidentiality of return information  
,section #fajc7;a77#c7 of such ,code is 
amended by inserting 1 7#ac77;,a71      
7#ac77;,b7 after 7#ab74  7#c7           
,conforming amendments ,section         
#fajc7p77#d7 of such ,code is amended-- 
7,a7 by inserting 7,a71 7#ac77;,b7 after
 7#ac7 each place it occurs1 and  7,b7  
by inserting 1 7#ac77;,a71 7#ac77;,b7   
after 7l77#aj7 each place it occurs4    
7b7 ,effective date ,the amendments made
 by this section shall apply to         
disclosures made under section          
#fajc7l77#ac7 of the ,internal ,revenue 
,code of #aihf 7as amended by this      
section7 after the date of the enactment
 of this ,act4  #d4 ,notification of    
request for tax return information  7a7 
,in general ,part ,g of title ,,iv 7#bj 
,u4,s4,c4 #ajhh et seq47 is amended by  
adding at the end the following3  #did4 

,notification of request for tax return 
information ,the ,secretary shall advise
 students and borrowers who submit an   
application for ,federal student        
financial aid under this title or for   
the discharge of a loan based on        
permanent and total disability1 as      
described in section #dcg7;a71 or who   
request an income-contingent or         
income-based repayment plan on their    
loan 7as well as parents and spouses who
 sign such an application or request or 
a ,master ,promissory ,note on behalf of
 those students and borrowers7 that the 
,secretary has the authority to request 
that the ,internal ,revenue ,service    
disclose their tax return information   
7as well as that of parents and spouses 
who sign such an application or request 
or a ,master ,promissory ,note on behalf
 of those students and borrowers7 to    
officers1 employees1 and contractors of 
the ,department of ,education as        
authorized under section #fajc7a77ac7 of
 the ,internal ,revenue ,code of #aihf1 

to the extent necessary for the         
,secretary to carry out this title4  4  
7b7 ,conforming amendment ,section      
#dhd7q7 7#bj ,u4,s4,c4 #ajia7q77 is     
amended to read as follows3  7q7        
reserved  4  #e4 ,increased funding for 
,federal ,pell ,grants ,section         
#dja7;b77#g77;,a77iv7 7#bj ,u4,s4,c4    
#ajgj;a7b77#g77;,a77iv77 is amended--   
7#a7 in subclause 7,x71 by striking     
#a1dcj1jjj1jjj and inserting            
#a1dee1jjj1jjj2 and  7#b7 in subclause  
7,,xi71 by striking #a1ade1jjj1jjj and  
insert #a1agj1jjj1jjj4  #f4 ,reports on 
implementation  7a7 ,in general ,not    
later than each specified date1 the     
,secretary of ,education and the        
,secretary of the ,treasury shall issue 
joint reports to the ,committees on     
,health1 ,education1 ,labor1 and        
,pensions and ,finance of the ,senate   
and the ,committees on ,education and   
,labor and ,ways and ,means of the      
,house of ,representatives regarding the
 amendments made by this ,act4 ,each    

such report shall include1 as           
applicable-- 7#a7 an update on the      
status of implementation of the         
amendments made by this ,act1  7#b7 an  
evaluation of the processing of         
applications for ,federal student       
financial aid1 and applications for     
income-based repayment and income       
contingent repayment1 under title ,,iv  
of the ,higher ,education ,act of #aife 
7#bj ,u4,s4,c4 #ajgj et seq471 in       
accordance with the amendments made by  
this ,act1 and  7#c7 implementation     
issues and suggestions for potential    
improvements4  7b7 ,specified date ,for 
purposes of subsection 7a71 the term    
specified date means-- 7#a7 the date    
that is #ij days after the date of the  
enactment of this ,act1  7#b7 the date  
that is #abj days after the first day   
that the disclosure process established 
under section #fajc7l77#ac7 of the      
,internal ,revenue ,code of #aihf1 as   
amended by section #c7;a7 of this ,act1 
is operational and accessible to        

officers1 employees1 and contractors of 
the ,department of ,education 7as       
specifically authorized and designated  
by the ,secretary of ,education71 and   
7#c7 the date that is #a year after the 
report date described in paragraph 7#b74
  ,secretary