,,ii #aahth ,,congress #b;d ,session ,s4 #dbie ,,in ,,the ,,senate ,,of ,,the ,,united ,,states ,may #i1 #bjbd,mr4 ,vance introduced the following bill2 which was read twice and referred to the ,committee on ,finance ,a ,,bill ,to establish that institutions of higher education shall be ineligible for funds under the ,higher ,education ,act of #aife due to campus disorder4 #a4 ,short title ,this ,act may be cited as the ,encampments or ,endowments ,act4 #b4 ,ineligibility due to campus disorder 7a7 ,in ,general ,part ,b of title ,i of the ,higher ,education ,act of #aife 7#bj ,u4,s4,c4 #ajaa et seq47 is amended by adding at the end the following3 #abd4 ,ineligibility due to campus disorder 7a7 ,in ,general ,notwithstanding any other provision of law1 no institution of higher education shall be eligible to receive funds under this ,act 7including funds for ,federal student assistance under title ,,iv7 or participate in programs under title ,,iv if the ,secretary determines that the institution of higher education has failed to disestablish any permanent encampment on the institution's campus if occupants of the encampment1 whether or not affiliated with the institution of higher education-- 7#a7 have attempted to interfere with a core function of the institution of higher education2 or 7#b7 have obstructed the ingress or egress of students4 7b7 ,definitions ,in this section3 7#a7 ,campus ,the term campus has the meaning given the term in section #dhe7;f77#f74 7#b7 ,core function of a university ,the term core function of a university means classroom instruction1 research1 and academic ceremonies performed as part of the matriculation1 education1 or graduation of students1 including commencement ceremonies4 7#c7 ,encampment ,the term encampment means any establishment on the campus of the institution of higher education containing any tent1 lean-to1 shack1 or other structure erected for the purpose of maintaining a temporary or permanent place to live or reside1 or where any bedding1 sleeping bag1 stove1 or collection of personal belongings has been placed for the purpose of maintaining temporary or permanent habitability4 7#d7 ,permanent encampment ,the term permanent encampment means any encampment existing on the campus of the institution of higher education for #g days or more4 7c7 ,regaining eligibility ,on the date that is #e years after the date on which an institution is declared ineligible under this section1 that institution may submit an application to the ,secretary containing a request to regain such eligibility1 and the ,secretary shall consider such request4 4 7b7 ,applicability ,the amendment made by subsection 7a7 shall take effect on the date of enactment of this ,act1 and ineligibility with respect to any grant1 loan1 or work assistance provided under title ,,iv of the ,higher ,education ,act of #aife 7#bj ,u4,s4,c4 #ajgj et seq47 due to a violation of subsection 7a7 shall apply on or after ,july #a1 #bjbe4 7c7 ,,fafsa determinations ,the ,secretary of ,education shall continue to receive and process the ,free ,application for ,federal ,student ,aid for continuously enrolled students 7as defined in section #difi of the ,internal ,revenue ,code of #aihf1 as added by section #c71 in order to make a determination about the covered ,federal financial assistance amount 7as defined under such section7 for such students4 #c4 ,excise ,tax on the ,endowments of ,certain ,disqualified ,colleges and ,universities 7a7 ,in general ,subchapter ,h of chapter #db of the ,internal ,revenue ,code of #aihf is amended by adding at the end the following new section3 #difi4 ,excise tax on endowment income of certain disqualified colleges and universities 7a7 ,tax imposed ,there is hereby imposed on each disqualified educational institution for any taxable year a tax equal to #ej percent of the aggregate fair market value of the assets of the institution at the end of the preceding taxable year4 7b7 ,disqualified educational institution ,for purposes of this section1 with respect to a taxable year-- 7#a7 ,in general ,the term disqualified educational institution means an eligible educational institution 7as defined in section #be;,a7f77#b77 which is ineligible to receive funds under the ,higher ,education ,act of #aife 7including funds for ,federal student assistance under title ,,iv of such ,act7 or participate in programs under title ,,iv of such ,act pursuant to section #abd of such ,act4 7#b7 ,exception ,an institution shall not be treated as a disqualified educational institution for the taxable year if such institution-- 7,a7 for the academic year ending with or within the taxable year1 provides grant funds for all continuously enrolled students of the institution in an amount equal to the covered ,federal financial assistance amount for such students1 and 7,b7 demonstrates such assistance to the ,secretary of ,education4 7c7 ,assets ,the rules of section #difh7;d7 shall apply for purposes of this section4 7d7 ,continuously enrolled students ,for purposes of this section1 the term continuously enrolled student means a student who-- 7#a7 is enrolled at an institution of higher education when that institution was determined to be ineligible for ,federal student assistance pursuant to section #abd of the ,higher ,education ,act of #aife2 and 7#b7 has continued enrollment in the same degree program at that institution4 7e7 ,covered ,federal financial assistance amount ,for purposes of this section1 the term covered ,federal financial assistance amount means the amount of ,federal financial assistance under title ,,iv of the ,higher ,education ,act of #aife 7including through grants1 loans1 and work assistance7 for which a student who is a continuously enrolled student in a disqualified educational institution would have been eligible1 with respect to an applicable award year1 if the disqualified educational institution were participating in the financial assistance programs under such title ,,iv1 as calculated based on a student's submission of the ,free ,application for ,federal ,student ,aid and in accordance with part ,f of such title ,,iv4 4 7b7 ,clerical amendment ,the table of sections for subchapter ,h of chapter #db of the ,internal ,revenue ,code of #aihf is amended by adding at the end the following new item3 ,sec4 #difi4 ,excise ,tax on the ,endowments of ,certain ,disqualified ,colleges and ,universities4 4 7c7 ,effective date ,the amendments made by this section shall apply to taxable years ending after ,july #a1 #bjbe4