summary
Introduced
04/20/2023
04/20/2023
In Committee
04/20/2023
04/20/2023
Crossed Over
Passed
Dead
01/03/2025
01/03/2025
Introduced Session
118th Congress
Bill Summary
A bill to restore the exemption of family farms and small businesses from the definition of assets under title IV of the Higher Education Act of 1965.
AI Summary
This bill, the Family Farm and Small Business Exemption Act, proposes to restore the exemption of family farms and small businesses (defined as those with 100 or fewer full-time or full-time equivalent employees) from being considered assets under the Higher Education Act of 1965. This change would impact the calculation of a student's expected family contribution (EFC) when applying for federal student aid, potentially making it easier for students from family-owned farms and small businesses to qualify for financial aid.
Committee Categories
Health and Social Services
Sponsors (13)
Joni Ernst (R)*,
John Boozman (R),
Mike Braun (R),
Chuck Grassley (R),
John Hoeven (R),
Cindy Hyde-Smith (R),
Cynthia Lummis (R),
Roger Marshall (R),
Jerry Moran (R),
Pete Ricketts (R),
Mike Rounds (R),
Jon Tester (D),
Thom Tillis (R),
Last Action
Read twice and referred to the Committee on Health, Education, Labor, and Pensions. (on 04/20/2023)
Bill Topics
Education
- ‐ Higher Education
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location | Created |
|---|---|---|
| State Bill Page | https://www.congress.gov/bill/118th-congress/senate-bill/1237/all-info | 04/21/2023 |
| BillText | https://www.congress.gov/118/bills/s1237/BILLS-118s1237is.pdf | 04/29/2023 |
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