US HR4628

Bill

US HR4628

Interest Rate Reduction Act

Introduced

In Committee

Crossed Over

Passed

Dead

Introduced Session

112th Congress

Bill Summary

Interest Rate Reduction Act - Amends title IV (Student Assistance) of the Higher Education Act of 1965 to make the 3.4% interest rate on Direct Stafford loans first disbursed to undergraduate students between July 1, 2011, and July 1, 2012, applicable to Direct Stafford loans first disbursed to undergraduate students between July 1, 2011, and July 1, 2013. Amends the Patient Protection and Affordable Care Act to repeal provisions establishing and appropriating funds to the Prevention and Public Health Fund (a Fund to provide for expanded and sustained national investment in prevention and public health programs to improve health and help restrain the rate of growth in private and public sector health care costs). Rescinds any unobligated balances appropriated to such Fund.

AI Summary

This bill, titled the Interest Rate Reduction Act, makes two primary changes: first, it extends the 3.4% interest rate on Federal Direct Stafford loans for undergraduate students, originally set to expire for loans disbursed between July 1, 2011, and July 1, 2012, to now cover loans disbursed between July 1, 2011, and July 1, 2013; and second, it repeals provisions within the Patient Protection and Affordable Care Act that established and funded the Prevention and Public Health Fund, a program designed to invest in health initiatives and control healthcare costs, and rescinds any unspent money allocated to this fund.

Committee Categories

Education, Health and Social Services

Sponsors (1)

Judy Biggert (R)*,

Last Action

Read the second time. Placed on Senate Legislative Calendar under General Orders. Calendar No. 393. (on 05/08/2012)

Official Document

https://www.congress.gov/bill/112th-congress/house-bill/4628/all-info

(9 Companion Bills)

Version:

Document Type	Source Location	Created
State Bill Page	https://www.congress.gov/bill/112th-congress/house-bill/4628/all-info	04/25/2013
Vote	clerk.house.gov/evs/2012/roll195.xml	05/02/2013
Vote	http://clerk.house.gov/evs/2012/roll194.xml	05/02/2013
Vote	http://clerk.house.gov/evs/2012/roll195.xml	05/02/2013
Vote	clerk.house.gov/evs/2012/roll194.xml	05/02/2013
Bill	http://gpo.gov/fdsys/pkg/BILLS-112hr4628eh/pdf/BILLS-112hr4628eh.pdf.pdf	01/23/2013
Bill	http://gpo.gov/fdsys/pkg/BILLS-112hr4628pcs/pdf/BILLS-112hr4628pcs.pdf.pdf	01/23/2013
Bill	http://gpo.gov/fdsys/pkg/BILLS-112hr4628ih/pdf/BILLS-112hr4628ih.pdf.pdf	01/23/2013

Bill	Bill Name	Last Action	Type
HR1217	To repeal the Prevention and Public Health Fund.	Received in the Senate and Read twice and referred to the Committee on Health, Education, Labor, and Pensions.	Related
HR3826	To amend the Higher Education Act of 1965 to extend the reduced interest rate for Federal Direct Stafford Loans.	Referred to the Subcommittee on Higher Education and Workforce Training.	Related
HR4816	Stop the Rate Hike Act of 2012	Referred to the Subcommittee on Higher Education and Workforce Training.	Related
HR5812	Investing in Our Student's Future Act	Referred to the Subcommittee on Higher Education and Workforce Training.	Related
HRes631	Providing for consideration of the bill (H.B. 3523) to provide for the sharing of certain cyber threat intelligence and cyber threat information between the intelligence community and cyber security entities, and for other purposes; providing for consideration of motions to suspend the rules; providing for consideration of the bill (H.B. 4628) to extend student loan interest rates for undergraduate Federal Direct Stafford Loans; and for other purposes.	Motion to reconsider laid on the table Agreed to without objection.	Related
S2051	A bill to amend the Higher Education Act of 1965 to extend the reduced interest rate for Federal Direct Stafford Loans.	Read twice and referred to the Committee on Health, Education, Labor, and Pensions.	Related
S2343	Stop the Student Loan Interest Rate Hike Act of	Returned to the Calendar. Calendar No. 365.	Related
S2366	Interest Rate Reduction Act	Introduced in the Senate. Read twice. Ordered Placed on Senate Legislative Calendar under General Orders. Calendar No. 370.	Same As
S2834	Subsidized Stafford Loan Reduced Interest Rate Extension Act of 2012	Read twice and referred to the Committee on Homeland Security and Governmental Affairs.	Related

Bill > HR4628

summary

Introduced Session

Bill Summary

AI Summary

Committee Categories

Sponsors (1)

Last Action

Official Document

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