,i  #aag? ,,congress  #b;d ,session  ,h4
 ,r4 #ghhj  ,,9 ,,! ,,h\se ,,(          
,,repres5tatives  ,may #bg1 #bjbb,mr4   
,c>bajal introduc$ ! foll[+ bill2 :i* 0 
ref]r$ to ! ,committee on ,ways &       
,means1 & 9 addition to ! ,committee on 
,education & ,labor1 = a p]iod to be    
subsequ5tly det]m9$ by ! ,speak]1 9 ea* 
case = consid]ation ( su* provisions z  
fall )9 ! jurisdiction ( ! committee    
conc]n$  ,a ,,bill  ,to increase ! total
 maximum ,f$]al ,pell ,grant1 & = o!r   
purposes4  #a4 ,%ort title ,?is ,act may
 be cit$ z ! ,degrees ,n ,debt ,act (   
#bjbb4  #b4 ,increase 9 ! maximum am\nt 
( a ,f$]al ,pell ,grant  7a7 ,aw>d ye>  
#bjbb-bjbc ,section #dja7;b77#g77;,c7 ( 
! ,high] ,education ,act ( #aife 7#bj   
,u4,s4,c4 #ajgj;a7b77#g77;,c77 is       
am5d$-- 7#a7 9 clause 7i77,i71 by /rik+ 
clause 7iv77,,ii7 & ins]t+ clause       
7v77,,ii72  7#b7 9 clause 7ii77,i71 by  
/rik+ clause 7iv77,,ii7 & ins]t+ clause 
7v77,,ii72  7#c7 by am5d+ clause 7iii7  
to read z foll[s3  7iii7 ,aw>d ye>s     

#bjah-bjai ?r\gh #bjba-bjbb ,= 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  2  7#d7 by r$esignat+     
clause 7iv7 z clause 7v72 &  7#e7 by    
ins]t+ aft] clause 7iii7 7z am5d$ by ?is
 subsection7 ! foll[+3  7iv7 ,aw>d ye>  
#bjbb-bjbc ,= aw>d ye> #bjbb-bjbc1 !    
am\nt det]m9$ "u ?is subp>agraph =      
purposes ( subp>agraph 7,b77iii7 %all be
 equal to-- 7,i7 #ac1hjj2 r$uc$ by      
7,,ii7 ! 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>2 
&  7,,iii7 r\nd$ to ! ne>e/ #e4  4  7b7 
,aw>d ye> #bjbc-bjbd & subsequ5t aw>d   
ye>s  7#a7 ,am5dm5t to aw>d am\nt       
,section #dja7;b77#e77;,a77i7 ( ! ,high]
 ,education ,act ( #aife 7#bj ,u4,s4,c4 
#ajgj;a7b77#e77;,a77i771 z am5d$ by     
section #gjc ( ! ,,fafsa ,simplification
 ,act 7title ,,vii ( division ,,ff (    

,public ,law #aaf-bfj71 is am5d$ to read
 z foll[s3  7i7 #ac1hjj r$uc$ by ! am\nt
 specifi$ z ! maximum ,f$]al ,pell      
,grant 9 ! la/ enact$ appropriation ,act
 applicable to t aw>d ye>1 except t =   
ea* aw>d ye> subsequ5t to aw>d ye>      
#bjbc-bjbd1 ?is clause %all be appli$ by
 sub/itut+ ! am\nt t is equal to        
#ac1hjj1 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$1 !n = #ac1hjj2 &  4  7#b7      
,def9ition ,section #dja7;a77#b7 ( !    
,high] ,education ,act ( #aife 7#bj     
,u4,s4,c4 #ajgj;a7a77#b771 z am5d$ by   
section #gjc ( ! ,,fafsa ,simplification
 ,act 7title ,,vii ( division ,,ff (    
,public ,law #aaf-bfj71 is am5d$-- 7,a7 
9 subp>agraph 7,e71 by /rik+ & aft] !   
semicolon2  7,b7 9 subp>agraph 7,f71 by 
/rik+ ! p]iod & ins]t+ 2 &2 &  7,c7 by  
add+ at ! end ! foll[+3  7,g7 ! t]m     
annual adju/m5t p]c5tage z appli$ 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  4  7#c7 ,effective date ,!        
am5dm5ts made by ?is subsection %all    
take effect z if includ$ 9 section #gjc 
( ! ,,fafsa ,simplification ,act 7title 
,,vii ( division ,,ff ( ,public ,law    
#aaf-bfj7 & 9 accordance ) section      
#gja7;b7 ( su* ,act4  #c4 ,repeal (     
increas$ alt]native m9imum tax exemption
 am\nt = individuals  7a7 ,9 g5]al      
,section #ee7;d7 ( ! ,int]nal ,rev5ue   
,code ( #aihf is am5d$ by /rik+ p>agraph
 7#d74  7b7 ,effective date ,! am5dm5t  
made by ?is section %all apply to       
taxable ye>s beg9n+ aft] ,decemb] #ca1  
#bjba4  #d4 ,repeal ( increas$ e/ate &  
gift tax exemption  7a7 ,9 g5]al        
,section #bjaj7;c77#c77;,c7 ( ! ,int]nal
 ,rev5ue ,code ( #aihf is am5d$ by /rik+
 ,janu>y #a1 #bjbf & ins]t+ ! date ( !  
enactm5t ( ! ,degrees ,n ,debt ,act (   
#bjbb4  7b7 ,effective date ,! am5dm5t  
made by ?is section %all apply to e/ates

 ( dec$5ts dy+ & gifts made aft] ! date 
( ! enactm5t ( ?is ,act4