H.R. 6620 — Introduced in House

I 118th CONGRESS 1st Session H. R. 6620 IN THE HOUSE OF REPRESENTATIVES December 6, 2023Mr. Crane introduced the following bill; which was referred to the Committee on Education and the Workforce A BILL To prohibit Federal funds from being provided to institutions of higher education with endowment funds equaling or exceeding $5,000,000,000, and for other purposes. 1. Short title This Act may be cited as the No Taxpayer Funding for Ivy League Schools Act. 2. Prohibition of Federal funds provided to certain institutions of higher education (a) In general Not later than 60 days after the date of enactment of this Act, notwithstanding any other provision of law, no Federal funds may be provided to an institution of higher education that has an endowment fund equaling or exceeding $5,000,000,000 on the date of enactment of this Act. (b) Exception Notwithstanding subsection (a), an institution described in subsection (a) may receive Federal funds for projects or research that relate to a critical national function. (c) Definitions In this section: (1) Endowment fund (A) In general The term endowment fund has the meaning given such term in section 331 of the Higher Education Act of 1965 (20 U.S.C. 1065). (B) Aggregation of funds All endowment funds at an institution of higher education shall be treated as one endowment fund for the purposes of this section. (2) Institution of higher education The term institution of higher education has the meaning given such term in section 101 of the Higher Education Act of 1965 (20 U.S.C. 1001). (3) National critical function The term national critical function means a function of Government so vital to the United States that its disruption would endanger national security or operational control (as such term is defined in the Secure Fence Act of 2006 (8 U.S.C. 1701 note)) of the southern border, or any combination thereof.