H.R. 2486 — Engrossed in House

116th CONGRESS 1st Session H. R. 2486 AN ACT To reauthorize mandatory funding programs for historically Black colleges and universities and other minority-serving institutions. 1. Short title This Act may be cited as the Fostering Undergraduate Talent by Unlocking Resources for Education Act or the FUTURE Act. 2. Strengthening historically black colleges and universities and other minority-serving institutions Section 371(b)(1)(A) of the Higher Education Act of 1965 (20 U.S.C. 1067q(b)(1)(A)) is amended— (1) in the first sentence, by striking through 2019 and inserting through 2021; and (2) in the second sentence, by striking 2019 and inserting 2021. 3. Elimination of account maintenance fees (a) In general Section 458 of the Higher Education Act of 1965 (20 U.S.C. 1087h) is amended— (1) in subsection (a)— (A) by striking paragraphs (1), (4), and (5); and (B) by redesignating paragraphs (3), (6), (7), and (8) as paragraphs (1), (2), (3), and (4), respectively; (2) by striking subsection (b); and (3) by redesignating subsection (c) as subsection (b). (b) Conforming amendments Section 422B(c) of the Higher Education Act of 1965 (20 U.S.C. 1072b(c)) is amended— (1) by striking paragraph (3); and (2) by redesignating paragraphs (4) through (6) as paragraphs (3) through (5), respectively. (c) Effective date The amendments made by this section shall take effect on October 1, 2019. 4. Transfer of Federal Pell Grant Funds Section 401(b)(7)(A)(iv) of the Higher Education Act of 1965 (20 U.S.C. 1070a(b)(7)(A)(iv)) is amended by striking subclauses (X) and (XI) and inserting the following: (X) $1,267,000,000 for fiscal year 2020; (XI) $1,145,000,000 for fiscal year 2021; (XII) $1,145,000,000 for fiscal year 2022; (XIII) $1,145,000,000 for fiscal year 2023; (XIV) $1,145,000,000 for fiscal year 2024; (XV) $1,394,000,000 for fiscal year 2025; and (XVI) $1,145,000,000 for fiscal year 2026 and each succeeding fiscal year. . 5. Determination of budgetary effects The budgetary effects of this Act, for the purpose of complying with the Statutory Pay-As-You-Go Act of 2010, shall be determined by reference to the latest statement titled Budgetary Effects of PAYGO Legislation for this Act, submitted for printing in the Congressional Record by the Chairman of the Committee on the Budget of the House of Representatives, provided that such statement has been submitted prior to the vote on passage. Passed the House of Representatives September 17, 2019.Clerk.