S. 4348 — Introduced in Senate

II 119th CONGRESS 2d Session S. 4348 IN THE SENATE OF THE UNITED STATES April 20, 2026Mr. Banks introduced the following bill; which was read twice and referred to the Committee on Health, Education, Labor, and Pensions A BILL To repeal the 90/10 rule as it pertains to proprietary schools under title IV of the Higher Education Act of 1965. 1. Short title This Act may be cited as the Promoting Access and Revenue Integrity Through Institutional Transparency Act or the PARITY Act. 2. Regulatory relief Section 487 of the Higher Education Act of 1965 (20 U.S.C. 1094) is amended— (1) in subsection (a), by repealing paragraph (24); and (2) by repealing subsection (d).