,,ii  #aaf? ,,congress  #a/ ,session    
,s4 #caad  ,,9 ,,! ,,s5ate ,,( ,,!      
,,unit$ ,,/ates  ,decemb] #ai1 #bjai,mr4
 ,enzi introduc$ ! foll[+ bill2 :i* 0   
read twice & ref]r$ to ! ,committee on  
,heal?1 ,education1 ,labor1 & ,p5sions  
,a ,,bill  ,to require t all in/itutions
 ( high] education p>ticipat+ 9 /ud5t   
f9ancial assi/ance programs "u title    
,,iv ( ! ,high] ,education ,act ( #aife 
meet c]ta9 rev5ue requirem5ts4  #a4     
,%ort title ,?is ,act may be cit$ z !   
#ij_/aj ,acc\ntability = ,all ,act4  #b4
 ,exp&+ ! applicability ( ! #ij_/aj rule
  7a7 ,9 g5]al ,section #dhg ( ! ,high] 
,education ,act ( #aife 7#bj ,u4,s4,c4  
#ajid7 is am5d$--  7#a7 9 subsection    
7a77#bd71 by /rik+ ,9 ! case ( a        
propriet>y in/itution ( high] education 
7z def9$ 9 section #ajb7;b771 su*       
in/itution & ins]t+ ,! in/itution2 &    
7#b7 9 subsection 7d7-- 7,a7 9 p>agraph 
7#a7--  7i7 9 ! matt] prec$+ subp>agraph
 7,a71 by /rik+ a propriet>y & ins]t+   
an2  7ii7 9 subp>agraph 7,a71 by /rik+ 1

 except 9 & all t foll[s ?r\gh high]    
education2  7iii7 9 subp>agraph         
7,c77iv71 by /rik+ subp>agraph 7,d77iii7
 & ins]t+ subp>agraph 7,d77ii72  7iv7 9 
subp>agraph 7,d7--  7,i7 by /rik+       
clauses 7i7 & 7ii7 & ins]t+ ! foll[+3   
7i7 9 ! case ( loans made by an         
in/itution ( high] education on or aft] 
,july #a1 #bjab1 only ! am\nt ( loan    
repaym5ts receiv$ dur+ ! applicable     
in/itutional fiscal ye>2 &  2  7,,ii7 by
 r$esignat+ clause 7iii7 z clause 7ii72 
&  7,,iii7 9 clause 7ii71 z r$esignat$  
by subclause 7,,ii7--  7aa7 by /rik+ a  
propriet>y & ins]t+ an in/itution2 &    
7bb7 by ins]t+ & aft] ! semicolon at !  
end2  7v7 by /rik+ subp>agraph 7,e72 &  
7vi7 by r$esignat+ subp>agraph 7,f7 z   
subp>agraph 7,e72  7,b7 9 p>agraph      
7#b7-- 7i7 9 subp>agraph 7,a7--  7,i7 by
 /rik+ ,a propriet>y & ins]t+ ,an2 &    
7,,ii7 by /rik+ a propriet>y & ins]t+   
an2 &  7ii7 9 subp>agraph 7,b71 by /rik+
 a propriet>y & ins]t+ an2  7,c7 9      
p>agraph 7#c77;,a71 by /rik+ propriet>y2

 &  7,d7 9 p>agraph 7#d71 by /rik+      
propriet>y4  7b7 ,effective date ,!     
am5dm5ts made by ?is section %all take  
effect on ,july #a1 #bjbj4