,i  #aag? ,,congress  #b;d ,session  ,h4
 ,r4 #fecg  ,,9 ,,! ,,h\se ,,(          
,,repres5tatives  ,febru>y #a1 #bjbb,mr4
 ,ca/5 7= himself1 ,mrs4 ,lee ( ,nevada1
 ,mr4 ,?ompson ( ,mississippi1 ,mr4     
,m\lton1 ,mr4 ,c>twright1 ,mr4 ,trone1  
,mrs4 ,hayes1 ,ms4 ,g>cia ( ,texas1 ,mr4
 ,mc,nerney1 & ,mr4 ,l>son (            
,connecticut7 introduc$ ! foll[+ bill2  
:i* 0 ref]r$ to ! ,committee on         
,education & ,labor  ,a ,,bill  ,to     
index ! maximum value ( ,f$]al ,pell    
,grants to inflation4  #a4 ,%ort title  
,?is ,act may be cit$ z ! ,pell ,grant  
,su/a9ability ,act4  #b4 ,f9d+s         
,congress f9ds ! foll[+3 7#a7 ,f #bjji  
?r\gh #bjah1 ! maximum discretion>y     
,f$]al ,pell ,grants "u section #dja ( !
 ,high] ,education ,act ( #aife /ay$    
flat :ile inflation 0 #ag p]c5t4  7#b7  
,! value ( ,f$]al ,pell ,grants mu/ keep
 pace ) /ud5ts' co/s 9 ord] to fulfill  
_! mission ( enabl+ l[]-income /ud5ts to
 att5d college4  #c4 ,index+ ,f$]al     
,pell ,grants to inflation  7a7 ,aw>d   

ye> #bjbb-bjbc ,section #dja ( ! ,high] 
,education ,act ( #aife 7#bj ,u4,s4,c4  
#ajgj;a7 is am5d$-- 7#a7 9 subsection   
7a77#a71 by /rik+ ?r\gh fiscal ye> #bjag
 & ins]t+ ?r\gh fiscal ye> #bjbb2 &     
7#b7 9 subsection 7b77#g77;,c71 by am5d+
 clause 7iii7 to read z foll[s3  7iii7  
,subsequ5t aw>d ye>s  7,i7 ,aw>d ye>s   
#bjah-bjai ?r\gh #bjba-bjbb ,= ea* ( !  
aw>d ye>s #bjah-bjai ?r\gh #bjba-bjbb1 !
 am\nt det]m9$ "u ?is subp>agraph =     
purposes ( subp>agraph 7,b77iii7 %all be
 equal to ! am\nt det]m9$ "u clause 7ii7
 = aw>d ye> #bjag-bjah4  7,,ii7 ,aw>d   
ye> #bjbb-bjbc ,= aw>d ye> #bjbb-bjbc & 
ea* subsequ5t aw>d ye>1 ! am\nt det]m9$ 
"u ?is subp>agraph = purposes (         
subp>agraph 7,b77iii7 %all be equal to--
 7aa7 7,,aa7 #f1die or ! total maximum  
,f$]al ,pell ,grant = ! prec$+ aw>d ye> 
7z det]m9$ "u clause 7iv77,,ii771 :i*ev]
 is great]1 increas$ by a p]c5tage equal
 to ! annual adju/m5t p]c5tage = ! aw>d 
ye> = :i* ! am\nt "u ?is subp>agraph is 
be+ det]m9$2 r$uc$ by 7,,bb7 #e1dce or !

 maximum ,f$]al ,pell ,grant = :i* a    
/ud5t 0 eligible = ! prec$+ aw>d ye>1 z 
specifi$ 9 ! la/ enact$ appropriation   
,act applicable to t ye>1 :i*ev] is     
great]2 &  7bb7 r\nd$ to ! ne>e/ #e4  4 
7b7 ,aw>d ye> #bjbc-bjbd1 & ea*         
subsequ5t aw>d ye> ,section #dja7;b7 ( !
 ,high] ,education ,act ( #aife 7#bj    
,u4,s4,c4 #ajgj;a7b771 z am5d$ by       
section #gjc ( ! ,,fafsa ,simplification
 ,act 7division ,,ff ( ,public ,law     
#aaf-bfj71 is fur!r am5d$-- 7#a7 by     
am5d+ p>agraph 7#e7 to read z foll[s3   
7#e7 ,total maximum ,f$]al ,pell ,grant 
7,a7 ,9 g5]al ,= aw>d ye> #bjbc-bjbd1 & 
ea* subsequ5t aw>d ye>1 ! total maximum 
,f$]al ,pell ,grant aw>d p] /ud5t %all  
be equal to ! sum (-- 7i7 #a1jfj1       
increas$ by a p]c5tage equal to ! annual
 adju/m5t p]c5tage = ! aw>d ye> = :i* ! 
am\nt "u ?is p>agraph is be+ det]m9$2 & 
7ii7 ! am\nt specifi$ z ! maximum ,f$]al
 ,pell ,grant 9 ! la/ enact$            
appropriation ,act applicable to t aw>d 
ye>4  7,b7 ,r\nd+ ,! total maximum      

,f$]al ,pell ,grant = any aw>d ye> %all 
be r\nd$ to ! ne>e/ #e4  7,c7 ,annual   
adju/m5t p]c5tage def9$ ,9 ?is p>agraph1
 ! t]m annual adju/m5t p]c5tage1 z      
appli$ to an aw>d ye>1 is equal to !    
e/imat$ p]c5tage *ange 9 ! ,consum]     
,price ,index 7z det]m9$ by ! ,secret>y1
 us+ ! def9ition 9 section #dgh7;f77 = !
 mo/ rec5t cal5d> ye> end+ prior to !   
beg9n+ ( t aw>d ye>4  2  7#b7 9 p>agraph
 7#f77;,a77ii71 by /rik+ ea* ( ! fiscal 
ye>s #bjbc ?r\gh #bjcc & ins]t+ fiscal  
ye> #bjbc & ea* subsequ5t fiscal ye>2 & 
7#c7 9 p>agraph 7#h77;,a71 by /rik+     
?r\gh fiscal ye> #bjcc4