Bill > HR2486

Introduced Session

FUTURE Act FUTURE Act Fostering Undergraduate Talent by Unlocking Resources for Education Act Fostering Undergraduate Talent by Unlocking Resources for Education Act This bill requires the Internal Revenue Service (IRS) to disclose certain tax return information to the Department of Education (ED) for the purpose of administering financial aid and loan programs. Upon receiving a request from ED, the IRS must disclose specified tax return information to ED for the purposes of establishing enrollment, renewing enrollment, administering, and conducting analyses and forecasts for estimating costs related to income-contingent or income-based repayment programs; discharging loans based on a total and permanent disability; determining the eligibility for, and the amount of, federal student financial aid; and conducting analyses and forecasts for estimating costs related to federal student financial aid programs. ED may only use the disclosed information for the purposes above and for mitigating risks related to the programs. Mitigation of risks includes conducting oversight and reducing improper payments. It does not include conducting criminal investigations or prosecutions. With the consent of the taxpayer, ED may disclose the return information to certain institutions of higher education, state higher education agencies, and scholarship organizations solely for the use in financial aid programs. The bill specifies notification and reporting requirements related to the disclosures and the implementation of the bill. The bill also permanently extends funding for minority-serving institutions of higher education and increases funding for Pell Grants.

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Committee Categories

Alma Adams (D)*,  Ted Budd (R),  Tony Cárdenas (D),  Gil Cisneros (D),  Steve Cohen (D),  Tom Cole (R),  Jim Cooper (D),  Suzan DelBene (D),  Brian Fitzpatrick (R),  Jeff Fortenberry (R),  Louie Gohmert (R),  Raúl Grijalva (D),  Debra Haaland (D),  Josh Harder (D),  Kendra Horn (D),  Hank Johnson (D),  David Kustoff (R),  Ben Ray Luján (D),  Eleanor Holmes Norton (D),  Tom O'Halleran (D),  Collin Peterson (D),  David Price (D),  Mike Rogers (R),  Max Rose (D),  Kilili Sablan (D),  Mary Gay Scanlon (D),  Bennie Thompson (D),  Xochitl Torres Small (D),  Mark Walker (R), 

Message on House action received in Senate and at desk: House amendments to Senate amendment. (on 07/23/2020)

Official Document