summary
Introduced
02/07/2025
02/07/2025
In Committee
02/07/2025
02/07/2025
Crossed Over
Passed
Dead
Introduced Session
119th 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 amends the Higher Education Act of 1965 to restore an exemption for family farms and small businesses when calculating financial assets for federal student aid purposes. Specifically, the bill modifies Section 480(f)(2) to exclude the net value of a family farm where the family resides and small businesses with 100 or fewer full-time or full-time equivalent employees from being counted as assets when determining a student's financial need. This means that families who own a small farm or a small business will no longer have the value of their business or farm property counted against them when calculating financial aid eligibility for their children. The changes will apply to need analysis for award years beginning on or after the date of the bill's enactment, potentially making college more accessible for children of family farmers and small business owners by preventing their family's primary source of livelihood from reducing their potential financial aid.
Committee Categories
Education
Sponsors (89)
Tracey Mann (R)*,
Don Bacon (R),
Jim Baird (R),
Troy Balderson (R),
Tom Barrett (R),
Jack Bergman (R),
Gus Bilirakis (R),
Mike Bost (R),
Salud Carbajal (D),
Troy Carter (D),
Juan Ciscomani (R),
Gil Cisneros (D),
Ben Cline (R),
Tom Cole (R),
Mike Collins (R),
Jim Costa (D),
Angie Craig (D),
Sharice Davids (D),
Don Davis (D),
Chris Deluzio (D),
Scott DesJarlais (R),
Troy Downing (R),
Chuck Edwards (R),
Jake Ellzey (R),
Gabe Evans (R),
Mike Ezell (R),
Pat Fallon (R),
Julie Fedorchak (R),
Randy Feenstra (R),
Brad Finstad (R),
Michelle Fischbach (R),
Scott Fitzgerald (R),
Brian Fitzpatrick (R),
Chuck Fleischmann (R),
Mike Flood (R),
Vince Fong (R),
Scott Franklin (R),
Marie Gluesenkamp Pérez (D),
Sam Graves (R),
Glenn Grothman (R),
Michael Guest (R),
Harriet Hageman (R),
Josh Harder (D),
Ashley Hinson (R),
Richard Hudson (R),
Ronny Jackson (R),
John Joyce (R),
Mike Kelly (R),
Trent Kelly (R),
David Kustoff (R),
Darin LaHood (R),
Nick LaLota (R),
Doug LaMalfa (R),
Mike Lawler (R),
Julia Letlow (R),
Frank Lucas (R),
Celeste Maloy (R),
Michael McCaul (R),
Kristen McDonald Rivet (D),
Mark Messmer (R),
Dan Meuser (R),
Mary Miller (R),
Mariannette Miller-Meeks (R),
John Moolenaar (R),
Barry Moore (R),
Tim Moore (R),
Dan Newhouse (R),
Zach Nunn (R),
Burgess Owens (R),
Jimmy Panetta (D),
John Rose (R),
David Rouzer (R),
Andrea Salinas (D),
Derek Schmidt (R),
Hillary Scholten (D),
Austin Scott (R),
Keith Self (R),
Adrian Smith (R),
Jason Smith (R),
Eric Sorensen (D),
Claudia Tenney (R),
G.T. Thompson (R),
Jill Tokuda (D),
David Valadao (R),
Derrick Van Orden (R),
Eugene Vindman (D),
Daniel Webster (R),
Rob Wittman (R),
Ryan Zinke (R),
Last Action
Referred to the House Committee on Education and Workforce. (on 02/07/2025)
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/119th-congress/house-bill/1131/all-info | 02/08/2025 |
| BillText | https://www.congress.gov/119/bills/hr1131/BILLS-119hr1131ih.pdf | 03/11/2025 |
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