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US HR5363

US HR5363
FUTURE Act Fostering Undergraduate Talent by Unlocking Resources for Education Act


summary

Introduced
12/09/2019
In Committee
12/09/2019
Crossed Over
12/10/2019
Passed
12/17/2019
Dead
Signed/Enacted/Adopted
12/19/2019

Introduced Session

116th Congress

Bill Summary

FUTURE Act FUTURE Act Fostering Undergraduate Talent by Unlocking Resources for Education Act Fostering Undergraduate Talent by Unlocking Resources for Education Act This bill permanently authorizes funding for minority-serving institutions of higher education and increases the authorization of appropriations for Pell Grants. This bill directs the Internal Revenue Service (IRS), upon the written request of the Department of Education (ED), to disclose to any authorized person, tax return information to determine eligibility for recertifications for income-contingent or income-based repayments of student loans, discharges of loans based on total and permanent disability, and the amount of student financial aid under the Higher Education Act of 1965. The IRS must also establish and implement procedures for recertifying income for purposes of this bill and for requesting tax return information. The bill requires ED and the IRS to issue joint reports to Congress on this bill, including an update on the status of implementation of this bill and an evaluation of how such implementation affected the processing of applications for financial aid and discharge of student loans.

AI Summary

This bill permanently authorizes funding for minority-serving institutions of higher education and increases the authorization of appropriations for Pell Grants. It also allows the Internal Revenue Service (IRS) to disclose certain tax return information to the Department of Education (ED) to determine eligibility for student loan repayment plans, disability loan discharges, and federal student financial aid. The bill requires the ED and IRS to establish procedures for recertifying income and to issue joint reports to Congress on the implementation of these provisions.

Committee Categories

Education

Sponsors (4)

Last Action

Became Public Law No: 116-91. (TXT | PDF) (on 12/19/2019)

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