Summary:
(This measure has not been amended since it was passed by the House on June 9, 2016. The summary of that version is repeated here.)

Puerto Rico Oversight, Management, and Economic Stability Act or PROMESA

This bill addresses Puerto Rico's debt by establishing an oversight board, a process for restructuring debt, and expedited procedures for approving critical infrastructure projects.

(Sec. 2) The effective date of this bill is the date of enactment. Title III (Adjustments of Debts) only applies to cases commenced under it on or after the date of enactment. Titles III and VI (Creditor Collective Action) apply to all debts, claims, and liens, regardless of the creation date.

(Sec. 3) If any provision of the bill is held invalid, the remainder of the bill is not affected. Title III is not severable from Title I (Establishment and Organization of Oversight Board) and Title II (Responsibilities of Oversight Board), and Titles I and II are not severable from Title III.

(Sec. 4) This bill prevails over any provision of territory law, state law, or regulation that is inconsistent with this bill. (The territories referred to in this bill include Puerto Rico, Guam, American Samoa, the Commonwealth of the Northern Mariana Islands, and the U.S. Virgin Islands.)

(Sec. 5) This section defines terms used in this bill.

(Sec. 6) This section specifies where the bill should be placed in the U.S. Code.

(Sec. 7) Nothing in the bill should be construed as impairing or relieving a territorial government or instrumentality from compliance with federal laws or requirements or territorial laws and requirements implementing a federally authorized or federally delegated program protecting the health, safety, or environment of persons in the territory.

TITLE I--ESTABLISHMENT AND ORGANIZATION OF OVERSIGHT BOARD

(Sec. 101) This section establishes a Financial Oversight and Management Board for Puerto Rico. The purpose of the board is to provide a method for a covered territory to achieve fiscal responsibility and access to the capital markets. The board must be created as an entity within the territorial government for which it is established and must not be considered to be a part of the federal government.

This section provides the board with authority to oversee territorial instrumentalities. The bill specifies that a territorial instrumentality is any political subdivision, public agency, instrumentality, or public corporation of a territory, and that term should be broadly construed to effectuate the purposes of the bill.

The board may require instrumentalities to establish fiscal plans and budgets in accordance with this bill. The board may also require the governor to submit reports regarding instrumentalities and include the budgets of certain instrumentalities in the territory budget.

This section sets forth procedures and requirements for the board regarding:

 the appointment and qualifications of members of the board, designating a chair, terms of service, and filling vacancies. This section also specifies procedures for adopting bylaws for conducting the business of the board. An affirmative vote of the majority of the board is required to approve a fiscal plan or a budget, cause legislative acts not to be enforced, or approve or disapprove an infrastructure project as a critical project.

The governor of a territory or a designee is an ex officio member of the board without voting rights. With the approval of a majority of its members, the board may conduct its business in an executive session that is closed to the public and consists solely of voting members and any professionals that the board determines to be necessary.

(Sec. 102) The board must have an office in the covered territory and additional offices as it deems necessary. Federal agencies may provide facilities and equipment for the board.

(Sec. 103) The board may hire an executive director and staff. Federal agencies and territorial governments may detail employees to the board. The executive director and staff of the board may be appointed and paid without regard to territorial or federal laws governing appointments and salaries. The board is exempt from procurement laws of the covered territory.

(Sec. 104) The powers of the board include:

 holding hearings and sessions to take testimony and receive evidence; obtaining official data from the territorial and federal government; obtaining creditor information; accepting gifts, bequests, and devises of services or property; issuing subpoenas; entering into contracts; enforcing territorial laws prohibiting public sector employees from participating in a strike or lockout; certifying voluntary agreements between creditors and debtors; protecting certain preexisting voluntary restructuring agreements; filing a petition to restructure or to submit or modify a plan of adjustment on behalf of a debtor; seeking judicial enforcement of its authority; imposing penalties for violations of valid orders of the board; ensuring prompt and efficient payment of taxes through electronic reporting, payment, and auditing technologies; requesting administrative support services from federal agencies; and investigating the disclosure and selling practices in connection with the purchase of bonds issued by a covered territory. (Sec. 105) The board, its members, and its staff are exempt from liability resulting from actions taken to implement this bill.

(Sec. 106) Except for actions arising out of Title III or out of the board's issuance of a subpoena, any action arising out of this bill must be brought in the U.S. district court for the covered territory or the U.S. District Court for the District of Hawaii if the territory does not have a district court. The bill sets forth requirements for appeal, the timing of relief, and expedited consideration for matters relating to this bill. The U.S. district court does not have jurisdiction to review challenges to the board's certification determinations.

(Sec. 107) The board must submit an annual budget to the President, Congress, and the territory's governor and legislature. The territorial government must provide specified initial funding for the board and designate a dedicated funding source for the board that is not subject to subsequent legislative appropriations.

(Sec. 108) The territorial government may not exercise control over the board or enact, implement, or enforce any legislation, policy, or rule that would impair the purposes of this bill.

(Sec. 109 The members and staff of the board are subject to federal conflict of interest and financial disclosure requirements.

TITLE II--RESPONSIBILITIES OF OVERSIGHT BOARD

This title establishes the process for the submission, approval, and certification of fiscal plans and budgets for Puerto Rico and its territorial instrumentalities.

(Sec. 201) The board must provide the governor of the territory with a schedule for the process of development, submission, approval, and certification of fiscal plans. A plan must cover a period of at least five years and provide a method to achieve fiscal responsibility and access to the capital markets.

The fiscal plan must:

 provide specified estimates, forecasts, and analysis of revenues, expenditures, and debt; ensure the funding of essential public services; provide adequate funding for public pension systems; provide for the elimination of structural deficits; provide for a debt burden that is sustainable in years in which a stay under this bill is not in effect; improve fiscal governance, accountability, and internal controls; enable the achievement of fiscal targets; provide for capital expenditures and investments necessary to promote economic growth; adopt appropriate recommendations submitted by the board; include additional information the board deems necessary; prevent certain transfers or loans of assets, resources, or funds of a territorial instrumentality; and respect lawful priorities and liens in effect prior to the enactment of this bill. This section establishes procedures for the review, approval, and certification of the fiscal plan by the board. If the governor fails to submit a fiscal plan that satisfies the requirements, the board may develop and submit the fiscal plan to the governor and legislature. The governor and board may also work collaboratively to develop a fiscal plan.

(Sec. 202) The board must submit to the governor and legislature revenue forecasts and a schedule for developing, submitting, approving, and certifying budgets. The budget must be developed in accordance with the fiscal plan and certified by the board. If the governor and legislature fail to develop certifiable budgets within the established deadline, the board must develop the budget for the territory or territorial instrumentality for that fiscal year. The board, the governor, and the legislature may also work collaboratively to develop a budget.

(Sec. 203) The governor must submit to the board quarterly reports including the actual revenues, expenditures, and cash flow of the territorial government. If the data is inconsistent with the certified budget, the board must notify the governor and provide the territorial government with an opportunity to explain or correct the inconsistency. If the government fails to correct the inconsistency within an established timeframe, the board must make budget reductions to ensure the quarterly budget aligns with the certified budget.

(Sec. 204) The governor must submit each enacted territorial law to the board with a cost estimate and a certification that the law is consistent with the fiscal plan. If the law is inconsistent with the plan or is missing a cost estimate, the board may take such actions as it considers necessary, including preventing the enforcement or application of the law.

The board must work with the territorial government to promote compliance with laws that require agencies and instrumentalities of the territorial government to maintain a registry of all contracts executed. The board may establish policies to require prior board approval of certain contracts, executive orders, rules, and regulations.

A territory may not enact new laws authorizing budgetary transfers between instrumentalities during the time between the enactment of this bill and the appointment of the board. Transfers that occur during this period are subject to review and reversal by the board.

 Upon appointment of its members, the board may review and, in its discretion, rescind certain territorial laws that were enacted during specified time periods and alter pre-existing priorities of creditors in a manner outside the ordinary course of business or inconsistent with the territory's constitution or laws as of specified dates.

The board may not impede territorial actions taken to implement certain federal programs, requirements, and standards.

(Sec. 205) The board may submit recommendations to the governor or the legislature for actions to ensure compliance with the fiscal plan, or to otherwise promote the financial stability, economic growth, management responsibility, and service delivery efficiency of the territorial government. The governor or legislature must notify the board as to whether it will adopt the recommendations, provide an implementation plan for recommendations that will be adopted, and provide an explanation for the recommendations that will not be adopted.

(Sec. 206) Prior to issuing a debt restructuring certification regarding an entity, the board must determine that:

 the entity has made good-faith efforts to reach a consensual restructuring with creditors; the entity has adopted procedures necessary to deliver timely audited financial statements, and made public draft financial statements and other information sufficient for any interested person to make an informed decision with respect to a possible restructuring; a fiscal plan certified by the board is in place; and either no order approving a qualifying modification has been entered into or an order has been entered into and the entity is unable to make its debt payments notwithstanding the modification. (Sec. 207) A territorial government may not issue debt, guarantee debt, or enter into other transactions with respect to its debt without the approval of the board.

 (Sec. 208) The board must submit to the President, Congress, the governor, and the legislature annual reports that describe the progress the territorial government has made in meeting the objectives of the bill, the assistance provided by the board to the territorial government, recommendation for changes to federal laws, the use of funds by the board, and any other activities the board deems necessary. The board must also submit specified reports regarding discretionary tax abatement agreements and cash flow.

(Sec. 209) The board terminates when it certifies that: (1) the territorial government has adequate access to short- and long- term credit markets at reasonable rates to meet its borrowing needs; and (2) for at least four consecutive years, the government has developed its budgets using modified accrual accounting standards and has achieved balanced budgets.

(Sec. 210) The full faith and credit of the United States is not pledged for any bond issued by the covered territory while an oversight board is in effect. Any claim to which the United States is determined to be liable is subject to the appropriations process. No federal funds are authorized by this bill for the payment of any liability of the territorial government.

(Sec. 211) If the board determines that a pension system of the territorial government is materially underfunded, the board must conduct an analysis prepared by an independent actuary of the pension system to assist the board in evaluating the fiscal and economic impact of the pension cash flows.

(Sec. 212) The board may intervene in any litigation filed against the territorial government and seek injunctive relief, including a stay of litigation.

TITLE III--ADJUSTMENTS OF DEBTS

This title establishes a process for the adjustment of debts by a territorial government or an instrumentality of a territorial government.

(Sec. 301) This section makes specified sections from the federal bankruptcy code applicable to this title and defines terms.

(Sec. 302) A territory or territorial instrumentality is eligible to be a debtor under this title if it is subject to an oversight board and has been certified by the board.

(Sec. 303) Subject to the limitations set forth in Titles I and II, this title does not prohibit a territory from exercising political and governmental powers over itself and its instrumentalities. This section prohibits territorial laws prescribing a method of composition or moratorium on the indebtedness of the territory or its instrumentalities to a non-consenting creditor. It also preempts unlawful executive orders that: (1) alter, amend, or modify the rights of holders of debt; or (2) divert funds from a territorial instrumentality to either the territory or another territorial instrumentality.

(Sec. 304) The board may initiate a proceeding to restructure the debt of an entity by filing a petition in district court. The filing of a petition constitutes an order for relief. This section permits the joint filing of petitions for debtors if the debtors are affiliated and provides for joint administration of affiliated debtor cases.

(Sec. 305) Unless the board consents or the actions are permitted in the plan of adjustment, a court may not interfere with the political or governmental powers of the debtor, the property or revenues of the debtor, or the use or enjoyment by the debtor of any income-producing property.

(Sec. 306) This section establishes original and exclusive jurisdiction for any case under Title III of this bill with the federal district courts, subject to specified exceptions. The courts may oversee any additional claim or civil cause of action in which the party is involved for which the overseeing court has jurisdiction. The section also establishes procedures and requirements for removal, remands, transfers, and appeals.

(Sec. 307) Venue for restructuring under this title is the federal district court for the covered territory (or territorial instrumentality) or the U.S. District Court for the District of Hawaii if a territory does not have a district court. Subject to the discretion of the board, venue for the case may also be the district court for the jurisdiction in which the board maintains an office that is located outside of the territory.

(Sec. 308) The Chief Justice of the United States must designate a district court judge to preside over the case if the debtor is a territory. For cases in which the territory is not a debtor, the chief judge of the court of appeals must designate a district court judge to conduct the case.

(Sec. 309) A district court may abstain in the interests of justice from hearing a particular proceeding arising in or related to a case under this title.

(Sec. 310) The Federal Rules of Bankruptcy Procedure apply to a case under this title and related civil proceedings.

(Sec. 311) This section exempts a lease to a territory from being treated as an executory contract or unexpired lease solely because the lease is subject to termination for failure of a debtor to appropriate rent.

(Sec. 312) This section specifies that only the board may file a plan of adjustment of the debts of the debtor once it has issued a certification.

(Sec. 313) The board may change or modify a plan of adjustment before the plan is confirmed, as long as the modification meets the requirement of this title.

(Sec. 314) A special taxpayer may object to confirmation of a plan. (Under current law, a special taxpayer is a record owner or holder of title to real property against which a special assessment or special tax has been levied the proceeds of which are the sole source of payment of an obligation issued by the debtor to defray the cost of an improvement relating to the real property.)

A court must confirm the plan if:

 the plan complies with the applicable provisions of the federal bankruptcy code and this title; the debtor is not legally prohibited from undertaking any actions necessary to carry out the plan; the holders of claims will receive cash equal to the allowed amount of the claim unless there is another agreement; any necessary legislative, regulatory, or electoral approvals necessary to carry out a provision of the plan have been obtained or the provision is conditioned on the approval; the plan is feasible and in the best interest of the creditors; and the plan is consistent with the fiscal plan certified by the board. (Sec. 315) This section designates the board as the representative of the debtor and authorizes the board to take any action necessary on behalf of the debtor including the filing of a petition, submitting or modifying a plan of adjustment, or submitting other filings with the court.

(Sec. 316) The court may authorize reasonable payments to professionals connected with a Title III proceeding.

(Sec. 317) A court may permit payment to professionals while the Title III case is pending.

TITLE IV--MISCELLANEOUS PROVISIONS

(Sec. 401) Nothing in the bill is intended to: limit the authority of Congress over the territories; authorize the issuance of subpoenas by the board to judicial officers or employees of territorial courts; or to alter, amend, or abrogate agreements, treaties, or covenants affecting the Northern Mariana Islands or American Samoa.

(Sec. 402) Nothing in this bill restricts Puerto Rico's right to determine its future political status, including by conducting the plebiscite authorized under current law.

(Sec. 403) The bill amends the Fair Labor Standards Act of 1938 to permit the governor of Puerto Rico, subject to the approval of the board, to set a minimum wage less than the federal minimum wage for employees who are under the age of 25 and hired after the enactment of this bill for a period of up to four years or until the termination of the board.

(Sec. 404) This section exempts Puerto Rico from Department of Labor regulations published on July 6, 2015, regarding overtime pay for executive, administrative, professional, outside sales, and computer employees, until: (1) Government Accountability Office (GAO) assesses the impact of applying the regulations to Puerto Rico, and (2) Labor certifies that the rule will not have a negative impact on the economy of Puerto Rico.

(Sec. 405) This section automatically stays all litigation against Puerto Rico and its instrumentalities, as well as any other judicial, administrative or other action or proceedings to enforce or collect claims until the later of six months after the date of enactment or February 15, 2017, subject to specified extensions which may be approved by the board or the U.S. District Court for the District of Puerto Rico.

A district court may grant relief from the stay for parties subject to irreparable damage because of the imposition of the stay. The stay does not authorize the government of Puerto Rico to stop payments on any liability. If the board determines it is feasible, the government must continue to make scheduled interest payments during the stay.

(Sec. 406) This bill amends the Omnibus Insular Areas Act of 1992 to permit the government of Puerto Rico to make purchases through the General Services Administration.

(Sec. 407) Upon the conclusion of the stay, creditors may sue if the government of Puerto Rico transfers property encumbered by liens or security interests between instrumentalities during the tenure of the board in violation of any agreement or applicable law.

(Sec. 408) The GAO must report to Congress on the application and utilization of Small Business Administration (SBA) contracting activities (including contracting activities relating to the SBA's Historically Underutilized Business Zone Empowerment Contracting [HUBZone] program in Puerto Rico).

(Sec. 409) This section establishes within the legislative branch a Congressional Task Force on Economic Growth in Puerto Rico to submit a specified report to Congress.

(Sec. 410) The GAO must submit to Congress a report describing the conditions that led to the level of debt per capita, how the actions of the territorial government improved or impaired the territory's financial conditions, and recommendations to avert future indebtedness of territories and states.

(Sec. 411) The GAO must report to Congress on the public debt of each territory, and the government of each territory must provide the GAO with any materials necessary to carry out this section.

(Sec. 412) This section amends the Small Business Act to exempt Puerto Rico from the 20% population cap that applies to the designation of qualified census tracts in Puerto Rico's metropolitan statistical areas under the SBA HUBZone program. The exemption applies until the earlier of ten years after the SBA begins implementing it, or the date on which the oversight board ceases to exist.

The SBA must develop and implement criteria and guidance on using a risk-based approach to requesting and verifying information from entities applying to be designated or recertified as qualified HUBZone small business concerns. The GAO must assess the SBA's criteria and guidance.

(Sec. 413) Nothing in this bill may be interpreted to restrict: (1) the ability of the Puerto Rico Commission for the Comprehensive Audit of the Public Credit to file its reports, or (2) the review and consideration of the commission's findings by Puerto Rico's government or the oversight board.

TITLE V--PUERTO RICO INFRASTRUCTURE REVITALIZATION

This title establishes a process to provide an expedited permitting and review process for certain infrastructure projects in Puerto Rico.

(Sec. 501) This section provides definitions for terms commonly used in Title V of this bill.

(Sec. 502) This section establishes the position of Revitalization Coordinator under the board. The bill requires the governor to appoint the Revitalization Coordinator based on nominations submitted by the board.

(Sec. 503) The Revitalization Coordinator may recommend to the board projects to be designated as critical projects. To be considered as a critical project, a project sponsor must submit to the Revitalization Coordinator an application including:

 the impact the project will have on an emergency, the availability of immediate private capital, the cost of the project and the amount of government funds needed, the environmental and economic benefits, the status of the project if it is existing or ongoing, and any additional criteria the Revitalization Coordinator may require. The Revitalization Coordinator may require additional details for energy projects. Critical projects approved by the oversight board are eligible for an expedited permitting and review process.

(Sec. 504) This section establishes the Interagency Environmental Subcommittee to evaluate environmental documents required under Puerto Rico law for any critical project within the expedited permitting process established by the Revitalization Coordinator pursuant to this bill.

Puerto Rico's legislature and governor may not hinder the expedited permitting process authorized under this bill. Project sponsors may petition the board if the Revitalization Coordinator or Puerto Rico agencies fail to expedite the project as envisioned by this title. If the coordinator or an agency has failed to comply with the process, the board may direct officials to comply with the process and take necessary enforcement actions.

Critical projects approved prior to the termination of the board must continue to receive expedited service after the termination of the board.

(Sec. 505) At the request of the Revitalization Coordinator, each federal agency with jurisdiction over the permitting, or administrative or environmental review of private or public projects in Puerto Rico must designate a liaison to the Revitalization Coordinator and expedite to the greatest extent possible the completion of any required federal action connected to a critical project.

(Sec. 506) This section provides an expedited judicial review process for any claim brought under Title V.

(Sec. 507) Nothing in this title is intended to change or alter federal legal requirements or laws.

TITLE VI--CREDITOR COLLECTIVE ACTION

(Sec. 601) This section establishes a voluntary process for debt restructuring by debtors and creditors in a territory or territorial instrumentality covered by this bill. The board must divide creditors into pools based on the characteristics of the debt, and each pool may vote on a plan to restructure the debt known as a qualifying modification. If at least two-thirds of the outstanding principal amount of a pool agrees with the plan, the pool may file a petition in court to bind the dissenting bondholders to the modification.

(Sec. 602 This section specifies that in any judicial proceeding regarding this title, U.S. laws apply without regard to any law of any international or foreign jurisdiction.

TITLE VII--SENSE OF CONGRESS REGARDING PERMANENT, PRO-GROWTH FISCAL REFORMS

(Sec. 701) This section expresses the sense of the Congress that any durable solution for Puerto Rico's fiscal and economic crisis should include permanent, pro-growth fiscal reforms that feature, among other elements, a free flow of capital between U.S possessions and the rest of the United States.

measure amended passed house june summary version repeated management economic stability act bill addresses puerto_rico debt establishing oversight board process restructuring debt expedited procedures approving critical infrastructure projects sec effective date bill date enactment title iii adjustments debts applies cases commenced date enactment creditor collective action apply debts claims liens regardless creation date sec provision bill held invalid remainder bill affected title iii title establishment organization oversight board title responsibilities oversight board titles sec bill prevails provision territory law state law regulation inconsistent bill territories referred bill include puerto_rico guam american_samoa commonwealth_of_the_northern_mariana_islands sec section defines terms bill sec section specifies bill placed code sec bill construed impairing relieving territorial government instrumentality compliance federal laws requirements territorial laws requirements implementing federally authorized federally delegated program protecting health safety environment persons territory title establishment organization oversight board sec section establishes financial oversight purpose board provide method covered territory achieve fiscal responsibility access capital markets board created entity territorial government established considered federal government section provides board authority oversee territorial instrumentalities bill specifies territorial instrumentality political subdivision public agency instrumentality public corporation territory term broadly construed effectuate purposes bill board require instrumentalities establish fiscal plans budgets accordance bill board require governor submit reports instrumentalities include budgets certain instrumentalities territory budget section sets forth procedures requirements board appointment qualifications members board designating chair terms service filling vacancies section specifies procedures adopting bylaws conducting business board affirmative vote majority board required approve fiscal plan budget cause legislative acts enforced approve disapprove infrastructure project critical project governor territory designee member board voting rights approval majority members board conduct business executive session closed public consists solely voting members professionals board determines necessary sec board office covered territory additional offices deems necessary federal agencies provide facilities equipment board sec board hire executive director staff federal agencies territorial governments detail employees board executive director staff board appointed paid regard territorial federal laws governing appointments salaries board exempt procurement laws covered territory sec powers board include holding hearings sessions testimony receive evidence obtaining official data territorial federal government obtaining creditor information accepting gifts bequests devises services property issuing subpoenas entering contracts enforcing territorial laws prohibiting public sector employees participating strike lockout certifying voluntary agreements creditors debtors protecting certain preexisting voluntary restructuring agreements filing petition restructure submit modify plan adjustment behalf debtor seeking judicial enforcement authority imposing penalties violations valid orders board ensuring prompt efficient payment taxes electronic reporting payment auditing technologies requesting administrative support services federal agencies investigating disclosure selling practices connection purchase bonds issued covered territory sec board members staff exempt liability resulting actions taken implement bill sec actions arising title iii board issuance subpoena action arising bill brought district court covered territory territory district court bill sets forth requirements appeal timing relief expedited consideration matters relating bill district court jurisdiction review challenges board certification determinations sec board submit annual budget president congress territory governor legislature territorial government provide specified initial funding board designate dedicated funding source board subject subsequent legislative appropriations sec territorial government exercise control board enact implement enforce legislation policy rule impair purposes bill sec members staff board subject federal conflict interest financial disclosure requirements title responsibilities oversight board title establishes process submission approval certification fiscal plans budgets puerto_rico territorial instrumentalities sec board provide governor territory schedule process development submission approval certification fiscal plans plan cover period years provide method achieve fiscal responsibility access capital markets fiscal plan provide specified estimates forecasts analysis revenues expenditures debt ensure funding essential public services provide adequate funding public pension systems provide elimination structural deficits provide debt burden sustainable years stay bill effect improve fiscal governance accountability internal controls enable achievement fiscal targets provide capital expenditures investments necessary promote economic growth adopt appropriate recommendations submitted board include additional information board deems necessary prevent certain transfers loans assets resources funds territorial instrumentality respect lawful priorities liens effect prior enactment bill section establishes procedures review approval certification fiscal plan board governor fails submit fiscal plan satisfies requirements board develop submit fiscal plan governor legislature governor board work collaboratively develop fiscal plan sec board submit governor legislature revenue forecasts schedule developing submitting approving certifying budgets budget developed accordance fiscal plan certified board governor legislature fail develop budgets established deadline board develop budget territory territorial instrumentality fiscal year board governor legislature work collaboratively develop budget sec governor submit board quarterly reports including actual revenues expenditures cash flow territorial government data inconsistent certified budget board notify governor provide territorial government opportunity explain correct inconsistency government fails correct inconsistency established timeframe board budget reductions ensure quarterly budget certified budget sec governor submit enacted territorial law board cost estimate certification law consistent fiscal plan law inconsistent plan missing cost estimate board actions considers necessary including preventing enforcement application law board work territorial government promote compliance laws require agencies instrumentalities territorial government maintain registry contracts executed board establish policies require prior board approval certain contracts executive orders rules regulations territory enact new laws authorizing budgetary transfers instrumentalities time enactment bill appointment board transfers occur period subject review reversal board appointment members board review discretion rescind certain territorial laws enacted specified time periods alter pre existing priorities creditors manner outside ordinary course business inconsistent territory constitution laws specified dates board impede territorial actions taken implement certain federal programs requirements standards sec board submit recommendations governor legislature actions ensure compliance fiscal plan promote financial stability economic growth management responsibility service delivery efficiency territorial government governor legislature notify board adopt recommendations provide implementation plan recommendations adopted provide explanation recommendations adopted sec prior issuing debt restructuring certification entity board determine entity good faith efforts reach consensual restructuring creditors entity adopted procedures necessary deliver timely audited financial statements public draft financial statements information sufficient interested person informed decision respect possible restructuring fiscal plan certified board place order approving qualifying modification entered order entered entity unable debt payments notwithstanding modification sec territorial government issue debt guarantee debt enter transactions respect debt approval board sec board submit president congress governor legislature annual reports describe progress territorial government meeting objectives bill assistance provided board territorial government recommendation changes federal laws use funds board activities board deems necessary board submit specified reports discretionary tax abatement agreements cash flow sec board terminates certifies territorial government adequate access short- term credit markets reasonable rates meet borrowing needs consecutive years government developed budgets modified accrual accounting standards achieved balanced budgets sec faith credit united_states pledged bond issued covered territory oversight board effect claim united_states determined liable subject appropriations process federal funds authorized bill payment liability territorial government sec board determines pension system territorial government materially board conduct analysis prepared independent actuary pension system assist board evaluating fiscal economic impact pension cash flows sec board intervene litigation filed territorial government seek injunctive relief including stay litigation title iii adjustments debts title establishes process adjustment debts territorial government instrumentality territorial government sec section makes specified sections federal bankruptcy code applicable title defines terms sec territory territorial instrumentality eligible debtor title subject oversight board certified board sec subject limitations set forth titles title prohibit territory exercising political governmental powers instrumentalities section prohibits territorial laws prescribing method composition moratorium indebtedness territory instrumentalities non consenting creditor preempts unlawful executive orders alter amend modify rights holders debt divert funds territorial instrumentality territory territorial instrumentality sec board initiate proceeding restructure debt entity filing petition district court filing petition constitutes order relief section permits joint filing petitions debtors debtors affiliated provides joint administration affiliated debtor cases sec board consents actions permitted plan adjustment court interfere political governmental powers debtor property revenues debtor use enjoyment debtor income producing property sec section establishes original exclusive jurisdiction case title iii bill federal district courts subject specified exceptions courts oversee additional claim civil cause action party involved overseeing court jurisdiction section establishes procedures requirements removal transfers appeals sec venue restructuring title federal district court covered territory territorial instrumentality territory district court subject discretion board venue case district court jurisdiction board maintains office located outside territory sec chief justice united_states designate district court judge case debtor territory cases territory debtor chief judge court appeals designate district court judge conduct case sec district court abstain interests justice hearing particular proceeding arising related case title sec apply case title related civil proceedings sec section exempts lease territory treated contract unexpired lease solely lease subject termination failure debtor appropriate rent sec section specifies board file plan adjustment debts debtor issued certification sec board change modify plan adjustment plan confirmed long modification meets requirement title sec special taxpayer object confirmation plan current law special taxpayer record owner holder title real property special assessment special tax levied proceeds sole source payment obligation issued debtor defray cost improvement relating real property court confirm plan plan complies applicable provisions federal bankruptcy code title debtor legally prohibited undertaking actions necessary carry plan holders claims receive cash equal allowed claim agreement necessary legislative regulatory electoral approvals necessary carry provision plan obtained provision conditioned approval plan feasible best interest creditors plan consistent fiscal plan certified board sec section designates board representative debtor authorizes board action necessary behalf debtor including filing petition submitting modifying plan adjustment submitting filings court sec court authorize reasonable payments professionals connected title iii proceeding sec court permit payment professionals title iii case pending title miscellaneous provisions sec bill intended limit authority congress territories authorize issuance subpoenas board judicial officers employees territorial courts alter amend agreements treaties covenants affecting northern_mariana_islands american_samoa sec bill restricts puerto_rico right determine future political status including conducting plebiscite authorized current law sec bill amends fair labor standards act permit governor puerto_rico subject approval board set minimum wage federal minimum wage employees age hired enactment bill period years termination board sec section exempts puerto_rico department_of_labor regulations published july overtime pay executive administrative professional outside sales computer employees government accountability office gao assesses impact applying regulations puerto_rico labor certifies rule negative impact economy puerto_rico sec section automatically stays litigation puerto_rico instrumentalities judicial administrative action proceedings enforce collect claims later months date enactment february subject specified extensions approved board district court grant relief stay parties subject irreparable damage imposition stay stay authorize government puerto_rico stop payments liability board determines feasible government continue scheduled interest payments stay sec bill amends omnibus insular areas act permit government puerto_rico purchases general_services_administration sec conclusion stay creditors sue government puerto_rico transfers property liens security interests instrumentalities tenure board violation agreement applicable law sec gao report congress application utilization small_business_administration sba contracting activities including contracting activities relating sba hubzone program puerto_rico sec section establishes legislative branch puerto_rico submit specified report congress sec gao submit congress report describing conditions led level debt capita actions territorial government improved impaired territory financial conditions recommendations avert future indebtedness territories states sec gao report congress public debt territory government territory provide gao materials necessary carry section sec section amends small_business_act exempt puerto_rico population cap applies designation qualified census tracts puerto_rico metropolitan statistical areas sba hubzone program exemption applies earlier years sba begins implementing date oversight board ceases exist sba develop implement criteria guidance risk based approach requesting verifying information entities applying designated qualified hubzone small business concerns gao assess sba criteria guidance sec bill interpreted restrict ability file reports review consideration commission findings puerto_rico government oversight board title puerto rico infrastructure revitalization title establishes process provide expedited permitting review process certain infrastructure projects puerto_rico sec section provides definitions terms commonly title bill sec section establishes position board bill requires governor appoint based nominations submitted board sec revitalization coordinator recommend board projects designated critical projects considered critical project project sponsor submit application including impact project emergency availability immediate private capital cost project government funds needed environmental economic benefits status project existing ongoing additional criteria require require additional details energy projects critical projects approved oversight board eligible expedited permitting review process sec section establishes evaluate environmental documents required puerto_rico law critical project expedited permitting process established pursuant bill puerto_rico legislature governor hinder expedited permitting process authorized bill project sponsors petition board revitalization coordinator puerto_rico agencies fail expedite project title coordinator agency failed comply process board direct officials comply process necessary enforcement actions critical projects approved prior termination board continue receive expedited service termination board sec request federal agency jurisdiction permitting administrative environmental review private public projects puerto_rico designate liaison expedite greatest extent possible completion required federal action connected critical project sec section provides expedited judicial review process claim brought sec title intended change alter federal legal requirements laws title creditor collective action sec section establishes voluntary process debt restructuring debtors creditors territory territorial instrumentality covered bill board divide creditors pools based characteristics debt pool vote plan restructure debt known qualifying modification thirds outstanding principal pool agrees plan pool file petition court bind dissenting bondholders modification sec section specifies judicial proceeding title laws apply regard law international foreign jurisdiction title vii sense congress permanent reforms sec section expresses sense congress durable solution puerto_rico fiscal economic crisis include permanent pro growth fiscal reforms feature elements free flow capital possessions rest united_states


Summary:
University Transit Rider Innovation Program Act of 2015 or the UTRIP Act

This bill authorizes the Department of Transportation (DOT) to make grants to designated recipients, local or state governmental authorities, private nonprofit organizations, or operators of public transportation services (recipients) to increase the use of public transportation by undergraduate or graduate students attending an institution of higher education (covered students).

A recipient may use amounts provided under a grant to:

 offset decreased revenue resulting from providing discounted fares to covered students, provide general operating assistance to public transportation services and routes designed to better serve institutions of higher education, or pay for capital costs associated with expanding and maintaining public transportation services and routes designed to serve such institutions. To be eligible for a grant, a recipient must provide to covered students a discounted fare for public transportation that is: (1) not more than 75% of the fare, and (2) applicable to both monthly and single-ride fares.

DOT shall apportion amounts made available to carry out this Act to large urbanized areas, small urbanized areas, and rural areas based on the relative numbers of full-time equivalent covered students in such areas, according to a specified formula, with specified exceptions.

university transit rider innovation program act act bill authorizes department_of_transportation dot grants designated recipients local state governmental authorities private nonprofit organizations operators public transportation services recipients increase use public transportation undergraduate graduate students attending institution higher education covered students recipient use amounts provided grant offset decreased revenue resulting providing discounted fares covered students provide general operating assistance public transportation services routes designed better serve institutions higher education pay capital costs associated expanding maintaining public transportation services routes designed serve institutions eligible grant recipient provide covered students discounted fare public transportation fare applicable monthly single ride fares dot shall apportion amounts available carry act large urbanized areas small urbanized areas rural areas based relative numbers time equivalent covered students areas according specified formula specified exceptions


Summary:
Dynamic Repayment Act of 2016

This bill amends the Higher Education Act of 1965 to replace several existing federal student loan programs with a single repayment plan that caps annual debt repayments based on income and forgives remaining balances after 20 or 30 years of payments.

The bill terminates the authority of the Department of Education (ED) to make federal Direct Stafford Loans, Direct Unsubsidized Stafford Loans, and Direct PLUS loans, subject to exceptions for existing student borrowers, PLUS loans made to parents of undergraduates, and Direct Consolidation Loans.

To replace the programs, the bill establishes the Income Dependent Education Assistance (IDEA) Loan Program and the IDEA Loan Repayment Program, which:

 limit annual repayments based on the borrower's income; forgive remaining balances after either 20 or 30 years of payments, depending on the amount of the loan; and prohibit the accrual of interest on loans for active duty service members. The bill amends the Social Security Act (SSAct) to require ED and the Department of Health and Human Services to exchange information necessary to use the National Directory of New Hires to assist in the collection of student loans.

The bill amends the Internal Revenue Code to: (1) require the Department of the Treasury to disclose to ED tax return information necessary to carry out the IDEA Loan Repayment Program, and (2) to exclude loan forgiveness under the program from gross income.

dynamic bill amends higher education act replace existing federal student loan programs single repayment plan caps annual debt repayments based income remaining balances years payments bill terminates authority federal direct stafford_loans direct unsubsidized stafford loans direct plus loans subject exceptions existing student borrowers plus loans parents undergraduates direct_consolidation_loans replace programs bill establishes income dependent education assistance idea loan program idea_loan_repayment_program limit annual repayments based borrower income forgive remaining balances years payments depending loan prohibit accrual interest loans active duty service members bill amends social_security_act ssact require department_of_health_and_human_services exchange information necessary use national_directory_of_new_hires assist collection student loans bill amends internal_revenue_code require department_of_the_treasury disclose tax return information necessary carry idea_loan_repayment_program exclude loan forgiveness program gross income


Summary:
Employer Participation in Repayment Act of 2016

This bill amends the Internal Revenue Code to extend the tax exclusion for employer-provided educational assistance to include payments of qualified education loans paid to either an employee or a lender.

employer participation bill amends internal_revenue_code extend tax exclusion employer provided educational assistance include payments qualified education loans paid employee lender


Summary:
Make Student Grants Truly Tax-Free Act

This bill amends the Internal Revenue Code to expand the tax exclusion for scholarships to include amounts received: (1) through a scholarship or fellowship grant program administered by the Secretary of Education that is based on financial need, including a Federal Pell Grant; (2) as an Iraq and Afghanistan Service grant under the Higher Education Act of 1965; or (3) as a TEACH Grant under the Higher Education Act of 1965.

student grants truly tax free act bill amends internal_revenue_code expand tax exclusion scholarships include amounts received scholarship fellowship grant program administered secretary education based financial need including federal pell grant iraq grant higher education act teach grant higher education act


Summary:
Strengthening Forgiveness for Public Servants Act

 This bill amends title IV (Student Assistance) of the Higher Education Act of 1965 to direct the Department of Education (ED) to cancel 15%, 15%, 20%, 20%, and 30% of the amount a borrower owes after 2, 4, 6, 8, and 10 years of public service employment, respectively, on a William D. Ford Federal Direct Loan made after this bill's enactment. (Currently, the balance of a borrower's Direct Loan is canceled if the borrower is not in default and has made 120 monthly payments on such loan while employed as a public service employee.)

The bill: (1) requires borrowers availing themselves of such loan cancellation to submit an employment certification form that includes self-certification of employment and employer certification of employment dates, and (2) places the borrower's loan in deferment during the period in which the borrower is employed in an eligible public service job if the borrower submits such form to ED.

If a portion of a loan is canceled for any year, the interest on such loan for such year shall be canceled.

strengthening forgiveness public servants act bill amends title student assistance higher education act direct cancel borrower owes years public service employment respectively federal_direct_loan bill enactment currently balance borrower direct_loan canceled borrower default monthly payments loan employed public service employee bill requires borrowers loan cancellation submit employment certification form includes self certification employment employer certification employment dates places borrower loan deferment period borrower employed eligible public service job borrower submits form portion loan canceled year interest loan year shall canceled


Summary:
401(Kids) Education Savings Account Modernization Act of 2016

This bill amends the Internal Revenue Code to: (1) limit the requirement for an income-based reduction in allowable contributions to a Coverdell education savings account to an individual who is the custodial parent of an account beneficiary (thus exempting non-custodians of the beneficiary from such reduction), (2) increase the annual contribution limit for such accounts, (3) allow the use of such an account to pay home school expenses, and (4) allow tax-free rollovers of amounts in a Coverdell education savings account to a Roth individual retirement account.

The Department of Education shall establish a website (to be known as 401Kids.gov) to provide free information on tax-favored education savings accounts.

education savings account modernization act bill amends internal_revenue_code limit requirement income based reduction allowable contributions coverdell education savings account individual custodial parent account beneficiary exempting non beneficiary reduction increase annual contribution limit accounts allow use account pay home school expenses allow tax free rollovers amounts coverdell education savings account roth individual retirement account department_of_education shall establish website known provide free information tax favored education savings accounts


Summary:
Stopping Unfair Collateral Consequences from Ending Student Success Act or the SUCCESS Act

This bill amends title IV (Student Assistance) of the Higher Education Act of 1965 to modify federal student aid eligibility criteria.

Specifically, the legislation repeals a provision that suspends a student's federal student aid eligibility for a one-year, two-year, or indefinite period following that student's first, second, or third drug offense.

Additionally, it prohibits the Department of Education from including on any federal financial aid form (e.g., the Free Application for Federal Student Aid) a question about an applicant's prior drug offense convictions.

stopping unfair collateral consequences ending student success act success act bill amends title student assistance higher education act modify federal student aid eligibility criteria specifically legislation repeals provision suspends student federal student aid eligibility year year indefinite period following student second drug offense additionally prohibits department_of_education including federal financial aid form free_application_for_federal_student_aid question applicant prior drug offense convictions


Summary:
Making College Affordable and Accessible Act of 2016

This bill amends the Higher Education Act of 1965 to: (1) extend the authorization of appropriations for the Fund for the Improvement of Postsecondary Education through FY2022, and (2) authorize the Department of Education (ED) to award grants to institutions of higher education to carry out credit-based academic transition programs established through partnerships between high schools and such institutions that utilize dual or concurrent enrollment programs or early college high school programs that enable students to earn college credits while in high school.

ED shall give priority in awarding grants to institutions that serve students from low-income families, students from rural communities, or students who are the first in their family to receive postsecondary education.

Institutions shall use grant funds to:

 provide teachers, principals, and other school leaders with professional development activities that enhance or enable the provision of the appropriate coursework through such programs; and support activities including curriculum design, establishment of a course articulation process, outreach programs to provide elementary school and secondary school students information about and academic preparation for the transition programs, helping students meet eligibility criteria for the postsecondary courses, and coordinating secondary and postsecondary support services and academic calendars. Institutions may use grant funds for costs associated with carrying out such transition programs, including the costs of: (1) tuition and fees, books, and required instructional materials; and (2) transportation to and from such programs.

making college affordable accessible act bill amends higher education act extend authorization appropriations fund_for_the_improvement_of_postsecondary_education fy2022 authorize award grants institutions higher education carry credit based academic transition programs established partnerships high schools institutions utilize dual concurrent enrollment programs early college high school programs enable students earn college credits high school shall priority awarding grants institutions serve students low income families students rural communities students family receive postsecondary education institutions shall use grant funds provide teachers principals school leaders professional development activities enhance enable provision appropriate coursework programs support activities including curriculum design establishment course articulation process outreach programs provide elementary school secondary school students information academic preparation transition programs helping students meet eligibility criteria postsecondary courses coordinating secondary postsecondary support services academic institutions use grant funds costs associated carrying transition programs including costs tuition fees books required instructional materials transportation programs


Summary:
(This measure has not been amended since it was introduced. The summary has been expanded because action occurred on the measure.)

Dine College Act of 2016

(Sec. 5) This bill requires the Department of the Interior to conduct a survey and study of all capital projects and facility needs of Dine College, a tribal community college in the Navajo Nation in Arizona. Interior must report the results and include views or recommendations submitted by the college or the Navajo Nation and Interior's recommendations.

Prior to the survey and study, Dine College must identify for Interior renovations and repairs necessary to meet health and safety standards and other requirements.

(Sec. 6) Interior must make grants to Dine College for activities including construction, operation and maintenance, education, summer programs, student services, and college expansion.

(Sec. 7) Amounts made available to Dine College under this bill are treated as non-federal, private funds for the purposes of any federal law that requires the use of non-federal or private funds.

measure amended introduced summary expanded action occurred measure dine college act sec bill requires department_of_the_interior conduct survey study capital projects facility needs tribal community college navajo nation arizona interior report results include views recommendations submitted college navajo_nation interior recommendations prior survey study identify interior renovations repairs necessary meet health safety standards requirements sec interior grants activities including construction operation maintenance education summer programs student services college expansion sec amounts available bill treated non federal private funds purposes federal law requires use non federal private funds


Summary:
Military Spouses Achieving College Education for Survivors Act of 2016 or ACES Act of 2016

This bill amends the Veterans Access, Choice, and Accountability Act of 2014 to deem any member of the Armed Forces who died between September 11, 2001, and December 31, 2005, to have died on January 1, 2006, in order to make that member's surviving spouse eligible for the Marine Gunnery Sergeant John David Fry scholarship. (Surviving spouses of service members who die in the line of duty after September 11, 2001, are eligible for such assistance until the earlier of the date they remarry or the date that is 15 years after the military spouse's death.)

 A surviving spouse of a member of the Armed Forces who died between September 11, 2001, and December 31, 2005, who elected before enactment of this Act to receive educational benefits under the Survivors and Dependents Educational Assistance program or the Marine Gunnery Sergeant John David Frye program may revoke such choice. (Such an election is currently irrevocable.)

military spouses achieving college education survivors act act bill amends accountability act deem member armed_forces died september december died january order member surviving spouse eligible marine gunnery sergeant john_david_fry scholarship surviving spouses service members die line duty september eligible assistance earlier date remarry date years military spouse death surviving spouse member armed_forces died september december elected enactment act receive educational benefits program marine gunnery sergeant program revoke choice election currently irrevocable


Summary:
In the Red Act of 2016

This bill authorizes and appropriates specified funds to the Department of Education (ED) for FY2016-FY2025 and each succeeding year for grants: (1) to waive tuition and fees for eligible students at community colleges, and (2) to waive or reduce tuition and fees for low-income students at four-year historically black colleges and universities and other minority-serving institutions.

It amends title IV (Student Assistance) of the Higher Education Act of 1965 to direct ED to establish a program to refinance outstanding federal student loans for borrowers of Direct Loan program loans disbursed before July 1, 2016, and Federal Family Education Loan (FFEL) program loans. (FFELs were not disbursed after June 30, 2010.)

The bill modifies, for academic year 2018-2019 and succeeding years, the calculation of the mandatory add-on amount used to determine the total maximum Federal Pell Grant award.

It also amends various provisions of the Internal Revenue Code to, among other things: (1) expand the expenses eligible for the American Opportunity Tax Credit to include the amount of a Federal Pell Grant used to pay for living expenses; and (2) include, as a qualified scholarship excludible from gross income, any amount received as a Federal Pell Grant.

Finally, the bill amends the Energy Policy Act of 2005 to repeal royalty relief for: (1) deep gas wells in shallow waters of the Gulf of Mexico, and (2) deep water oil and gas leases in the central and western Gulf of Mexico.

bill authorizes appropriates specified funds fy2016 fy2025 succeeding year grants waive tuition fees eligible students community colleges waive reduce tuition fees low income students year historically black colleges universities minority serving institutions amends title student assistance higher education act direct establish program refinance outstanding federal student loans borrowers direct_loan program loans disbursed july federal_family_education_loan ffel program loans ffels disbursed june bill modifies academic year succeeding years calculation mandatory add determine total maximum federal pell grant award amends provisions internal_revenue_code things expand expenses eligible american_opportunity_tax_credit include federal pell grant pay living expenses include qualified scholarship excludible gross income received federal pell grant finally bill amends energy policy act repeal royalty relief deep gas wells shallow waters gulf_of_mexico deep water oil gas leases central western gulf_of_mexico


Summary:
Perkins Fund for Equity and Excellence

This bill amends the Carl D. Perkins Career and Technical Education Act of 2006 to replace the existing Tech Prep program with a new competitive grant program to support career and technical education. Under the program, local educational agencies and their partners may apply for grant funding to support:

 career and technical education programs that are aligned with postsecondary education programs, dual or concurrent enrollment programs and early college programs, certain evidence-based strategies and delivery models related to career and technical education, teacher and leader experiential and informational-gathering site visits, professional development of educators and business partners, structured interdisciplinary collaboration and common planning time, teacher and leader externship programs, cross-credentialing for teachers, paid student internships or other paid work-based learning experiences, and guidance counseling. Unless granted a waiver, a grant recipient must provide specified matching funds in the fourth and fifth years of the five-year grant.

bill amends replace existing program new competitive grant program support career technical education program local educational agencies partners apply grant funding support career technical education programs aligned postsecondary education programs dual concurrent enrollment programs early college programs certain evidence based strategies delivery models related career technical education teacher leader experiential informational gathering site visits professional development educators business partners structured interdisciplinary collaboration common planning time teacher leader externship programs cross credentialing teachers paid student internships paid work based learning experiences guidance counseling granted waiver grant recipient provide specified matching funds fourth fifth years year grant


Summary:
Elevating Educator Preparation Through Innovation Act of 2016

This bill amends title II (Teacher Quality Enhancement) of the Higher Education Act of 1965 to revise provisions related to the Teacher Quality Partnership grant program. Specifically, the bill:

 modifies requirements regarding which types of entities must, or may, be included in a grant-eligible partnership; eliminates the requirement that a teaching residency program must culminate in the attainment of a master's degree; and expands the purposes for which grant funds may be used.

educator preparation innovation act bill amends title teacher quality enhancement higher education act revise provisions related teacher_quality_partnership grant program specifically bill modifies requirements types entities included grant eligible partnership eliminates requirement teaching residency program attainment master degree expands purposes grant funds


Summary:
STEM Opportunities Act of 2016

This bill directs the Office of Science and Technology Policy to establish a STEM Inclusion Interagency Working Group which shall focus on the creation of a more diverse and inclusive STEM (science, technology, engineering, and mathematics) workforce.

The National Science Foundation (NSF) shall strengthen the goals and activities of the ADVANCE (Increasing the Participation and Advancement of Women in Academic Science and Engineering Careers) program to focus on increasing the recruitment, retention, and success of all women in STEM, including minorities and persons with disabilities.

The NSF shall:

 award a grant for the establishment of at least one Center for Excellence for Inclusion in STEM; collect institution-level data on the demographics of STEM faculty at different types of institutions of higher education; award grants to institutions of higher education (or their consortia) to implement or expand evidence-based reforms for recruiting, retaining, and advancing students, fellows, trainees, and faculty from underrepresented groups in STEM; and administer three specified Presidential Awards for Excellence in Science, Mathematics, and Engineering Mentoring to recognize annually outstanding mentoring in STEM fields in primary, secondary, and higher education.

bill directs office_of_science_and_technology_policy establish stem inclusion interagency working group shall focus creation diverse inclusive stem science technology engineering mathematics workforce national_science_foundation nsf shall strengthen goals activities advance increasing participation advancement women academic science engineering careers program focus increasing recruitment retention success women stem including minorities persons disabilities nsf shall award grant establishment center excellence inclusion stem collect institution level data demographics stem faculty different types institutions higher education award grants institutions higher education consortia implement expand evidence based reforms recruiting retaining advancing students fellows trainees faculty underrepresented groups stem administer specified engineering mentoring recognize annually outstanding mentoring stem fields primary secondary higher education


Summary:
Stop Taxing Death and Disability Act

This bill amends the Internal Revenue Code to exclude from the gross income of an individual the discharge of student loans or private education loans due to the death or disability of the student.

The bill also amends the Higher Education Act of 1965 to require the Department of Education (ED) to discharge the liability on loans that parents received on behalf of a student who: (1) has become permanently and totally disabled, or (2) is unable to engage in any substantial gainful activity due to a physical or mental impairment that can be expected to result in death or has lasted or is expected to last continuously for at least 60 months. (Under current law, ED is required to discharge the loans to parents if the student dies.)

stop taxing death disability act bill amends internal_revenue_code exclude gross income individual discharge student loans private education loans death disability student bill amends higher education act require discharge liability loans parents received behalf student permanently totally disabled unable engage substantial gainful activity physical mental impairment expected result death expected continuously months current law required discharge loans parents student dies


Summary:
College Access Act of 2016

This bill establishes a competitive grant program for states to develop or implement comprehensive plans to improve post-secondary outcomes for students.

A state's plan must include reforms to: (1) implement measures to maintain or increase fiscal support for post-secondary education; (2) increase the transparency of, and access to, information about the costs and outcomes of attaining post-secondary credentials at the state's institutions; and (3) improve post-secondary education remediation, remove barriers to innovation in postsecondary education, or improve the transition of students to and from post-secondary institutions.

college access act bill establishes competitive grant program states develop implement comprehensive plans improve post secondary outcomes students state plan include reforms implement measures maintain increase fiscal support post secondary education increase transparency access information costs outcomes attaining post secondary credentials state institutions improve post secondary education remediation remove barriers innovation postsecondary education improve transition students post secondary institutions


Summary:
Boost Saving for College Act

This bill amends the Internal Revenue Code to modify the tax treatment of qualified tuition programs (known as 529 plans).

The bill allows: (1) a nonrefundable tax credit for contributions of an individual to a 529 plan, and (2) an exclusion from the gross income of an employee of up to $1000 per year of employer contributions to a 529 plan.

The bill also permits savings from a 529 plan to be rolled over tax-free into: (1) a Roth Individual Retirement Account of the owner or the beneficiary of a 529 plan that has been maintained for 10 years, and (2) an ABLE account of the designated beneficiary of the 529 plan.

(Tax-favored ABLE [Achieving a Better Life Experience] accounts are designed to enable individuals with disabilities to save for and pay for disability-related expenses.)

boost saving college act bill amends internal_revenue_code modify tax treatment qualified tuition programs known plans bill allows nonrefundable tax credit contributions individual plan exclusion gross income employee year employer contributions plan bill permits savings plan rolled tax free roth individual retirement account owner beneficiary plan maintained years able account designated beneficiary plan tax favored able achieving better life experience accounts designed enable individuals disabilities save pay disability related expenses


Summary: This bill increases the micro-purchase threshold for activities by institutions of higher education, nonprofit research organizations, or independent research institutes under federal procurement contracts, grants, or cooperative agreements to: (1) $10,000; or (2) a higher threshold determined by the head of the relevant executive agency consistent with clean audit findings, internal institutional risk assessment, or state law. Micro-purchases at or below the threshold are exempt from certain: (1) requirements under the Small Business Act and contracting goals of the Department of Defense, the U.S. Coast Guard, or the National Aeronautics and Space Administration (NASA) to award contracts to small businesses owned and controlled by socially and economically disadvantaged individuals, historically black colleges and universities, or other minority institutions; (2) competitive quotation and price evaluation standards; and (3) Buy American requirements for the use of supplies manufactured in the United States.

bill increases micro purchase threshold activities institutions higher education nonprofit research organizations independent research institutes federal procurement contracts grants cooperative agreements higher threshold determined head relevant executive agency consistent clean audit findings internal institutional risk assessment state law micro purchases threshold exempt certain requirements small business act contracting goals department_of_defense national_aeronautics_and_space_administration nasa award contracts small businesses owned controlled socially economically disadvantaged individuals historically black colleges universities minority institutions competitive price evaluation standards buy american requirements use supplies manufactured united_states


Summary:
Student Tax Relief Act

This bill amends the Internal Revenue Code to exclude from gross income the discharge of student loan debt after June 12, 2014, due to: (1) borrower defenses asserted pursuant to the Higher Education Act of 1965, or (2) an agreement with the Consumer Financial Protection Bureau or any other federal agency in connection with the closure or other agency action relating to an educational institution.

bill amends internal_revenue_code exclude gross income discharge student loan debt june borrower defenses asserted pursuant higher education act agreement consumer_financial_protection_bureau federal agency connection closure agency action relating educational institution


Summary:
Empowering Students Through Enhanced Financial Counseling Act

This bill amends title IV (Student Assistance) of the Higher Education Act of 1965 to modify loan counseling requirements for an institution of higher education (IHE) that participates in federal student aid programs.

Currently, an IHE must provide entrance counseling to a student who is a first-time federal student loan borrower. This bill replaces required entrance counseling with required annual counseling. Also, it expands the required recipients of such annual counseling to include, in addition to student borrowers, Federal Pell Grant recipients and parent PLUS Loan borrowers.

Each annual counseling recipient must receive comprehensive information on the terms, conditions, and responsibilities with respect to a grant or loan and general information on a typical student budget, the right to request an annual credit report, average income and employment data, and financial management resources. Additionally, the bill revises and expands the required contents of annual counseling for student borrowers, specifies the authorized contents of annual counseling for Pell Grant recipients, and establishes the required contents of annual counseling for parent PLUS loan borrowers.

The bill revises and expands exit counseling information requirements to include an outstanding loan balance summary, the anticipated monthly payments under standard and income-based repayment plans, an explanation of the grace period preceding repayment, the option to pay accrued interest before it capitalizes, the right to request an annual credit report, and loan servicer contact information.

It directs ED to maintain a consumer-tested online counseling tool that provides annual and exit counseling.

 The Institute of Education Sciences must study the impact and effectiveness of exit counseling, annual counseling, and the online counseling tool.

empowering students enhanced financial counseling act bill amends title student assistance higher education act modify loan counseling requirements institution higher education ihe participates federal student aid programs currently ihe provide entrance counseling student time federal student loan borrower bill replaces required entrance counseling required annual counseling expands required recipients annual counseling include addition student borrowers federal pell grant recipients parent plus loan borrowers annual counseling recipient receive comprehensive information terms conditions responsibilities respect grant loan general information typical student budget right request annual credit report average income employment data financial management resources additionally bill revises expands required contents annual counseling student borrowers specifies authorized contents annual counseling pell_grant recipients establishes required contents annual counseling parent plus loan borrowers bill revises expands exit counseling information requirements include outstanding loan balance summary anticipated monthly payments standard income based repayment plans explanation grace period preceding repayment option pay accrued interest right request annual credit report loan servicer contact information directs maintain consumer tested online counseling tool provides annual exit counseling institute_of_education_sciences study impact effectiveness exit counseling annual counseling online counseling tool


Summary:
Student Loan Tax Relief Act

This bill amends the Internal Revenue Code to exclude from gross income of an individual the discharge (in whole or in part) of student loans. The student loans covered by the bill include: (1) any loan provided expressly for postsecondary educational expenses and made by specified U.S. entities, states, political subdivisions, the District of Columbia, or any institution of higher education; (2) any private education loan; and (3) loans made by specified educational and tax-exempt organizations that meet certain requirements.

bill amends internal_revenue_code exclude gross income individual discharge student loans student loans covered bill include loan provided expressly postsecondary educational expenses specified entities states political subdivisions district_of_columbia institution higher education private education loan loans specified educational tax exempt organizations meet certain requirements


Summary:
Workforce Advance Act

This bill amends the Carl D. Perkins Career and Technical Education Act of 2006 to include dual or concurrent enrollment and early college high school options as part of the Act's supported career technical education (CTE) programs. (Dual and concurrent enrollment programs and early college courses allow students to earn college credit while still in high school.)

The bill allows: (1) schools to use a portion of funding received under the Act for tuition and fees for CTE college courses, and (2) school districts to use such funding to support educators pursuing the credentials they need to teach these courses in their high schools.

The Department of Education may include in its demonstration and dissemination of best practices information on CTE programs methods and techniques for providing and integrating dual or concurrent enrollment, early college high schools, pre-apprenticeship programs, and other opportunities for secondary students to earn postsecondary education credit in CTE programs.

bill amends include dual concurrent enrollment early college high school options act supported career technical education programs dual concurrent enrollment programs early college courses allow students earn college credit high school bill allows schools use portion funding received act tuition fees college courses school districts use funding support educators pursuing credentials need teach courses high schools department_of_education include demonstration dissemination best practices information programs methods techniques providing integrating dual concurrent enrollment early college high schools pre apprenticeship programs opportunities secondary students earn postsecondary education credit programs


Summary:
(This measure has not been amended since it was introduced. The summary has been expanded because action occurred on the measure.)

National Sea Grant College Program Amendments Act of 2016

 (Sec.3) This bill amends the National Sea Grant College Program Act to reauthorize through FY2021 the National Sea Grant College Program.

The bill requires the National Oceanic and Atmospheric Administration (NOAA) to award Dean John A. Knauss Marine Policy Fellowships. Currently, NOAA has discretion in awarding such fellowships. Those fellowships support the placement of graduate students in fields related to ocean, coastal, and Great Lakes resources in positions with the executive and legislative branches.

(Sec.4)NOAA must establish priorities for the use of donations given for the National Sea Grant Program.

(Sec.8)An agency may appoint a recipient of a Dean John A. Knauss Marine Policy Fellowship to a federal position within two years after such recipient successfully completes a fellowship.

(Sec.9)The bill authorizes through FY2021 grants for university research on: (1) the biology, prevention, and control of aquatic nonnative species; (2) oyster diseases, oyster restoration, and oyster-related human health risks; (3) the biology, prevention, and forecasting of harmful algal blooms; and (4) sustainable aquaculture techniques and technologies. The bill also authorizes through FY2021 grants for: (1) fishery extension activities conducted by sea grant colleges or sea grant institutes to enhance existing core program funding; and (2) priority issues identified in the National Sea Grant Program's strategic plan.

measure amended introduced summary expanded action occurred measure national sea grant college program amendments act bill amends reauthorize fy2021 bill requires national_oceanic_and_atmospheric_administration noaa award marine currently noaa discretion awarding fellowships fellowships support placement graduate students fields related ocean coastal great_lakes resources positions executive legislative branches establish priorities use donations given agency appoint recipient marine policy fellowship federal position years recipient successfully completes fellowship bill authorizes fy2021 grants university research biology prevention control aquatic nonnative species oyster diseases oyster restoration oyster related human health risks biology prevention forecasting harmful algal blooms sustainable aquaculture techniques technologies bill authorizes fy2021 grants fishery extension activities conducted sea grant colleges sea grant institutes enhance existing core program funding priority issues identified strategic plan


Summary:
Know Before You Owe Private Student Loan Act of 2016

This bill amends the Truth in Lending Act to revise requirements for disclosures in private education loan applications. Before issuing a private education loan for a student attending an institution of higher education (IHE), lenders must obtain the IHE's certification of the student's enrollment status, the student's cost of attendance, and the difference between that cost and the student's estimated financial assistance.

Lenders must: (1) send loan statements to borrowers at least once every three months a student is enrolled at an IHE, (2) notify the relevant IHE of the loan amount and the student to whom it applies no later than the date funds are issued, and (3) submit an annual report to the Consumer Financial Protection Bureau (CFPB) containing information the CFPB requires concerning private student loans.

This bill amends title IV (Student Assistance) of the Higher Education Act of 1965 by requiring IHEs, before providing lenders with certifications, to determine whether students have exhausted their options for title IV assistance and notify borrowers of: (1) the availability of federal financial aid assistance, (2) their ability to choose their own private educational lender, (3) the impact of the proposed private education loan on their eligibility for other financial assistance, and (4) their right to accept or reject a private education loan within 30 days of the lender's approval of their application and to cancel the loan within 3 business days of its consummation.

know owe private student loan act bill amends truth lending act revise requirements disclosures private education loan applications issuing private education loan student attending institution higher education ihe lenders obtain ihe certification student enrollment status student cost attendance difference cost student estimated financial assistance lenders send loan statements borrowers months student enrolled ihe notify relevant ihe loan student applies later date funds issued submit annual report consumer_financial_protection_bureau cfpb containing information cfpb requires concerning private student loans bill amends title student assistance higher education act requiring ihes providing lenders certifications determine students exhausted options title assistance notify borrowers availability federal financial aid assistance ability choose private educational lender impact proposed private education loan eligibility financial assistance right accept reject private education loan days lender approval application cancel loan business days consummation


Summary:
Campus Fire Safety Education Act of 2016

 This bill directs the Department of Education (ED) to establish a program to award grants, on a competitive basis, to institutions of higher education or consortiums of such institutions, in a collaborative partnership with a nonprofit organization or a public safety department (eligible entity), for: (1) initiating, expanding, or improving fire safety education programs; and (2) increasing fire safety awareness among enrolled students.

ED shall give priority to institutions that plan to use funds to initiate, expand, or improve fire safety education programs that include educational material specifically prepared for students with physical, sensory, or cognitive disabilities. The bill sets forth provisions regarding grant periods and matching and other requirements. An eligible entity may not be awarded more than $250,000 per fiscal year under this bill.

An eligible entity shall use grant funds to initiate, expand, or improve a fire safety education program that:

 reaches all enrolled students (for an institution of higher education); ensures maximum exposure to, increases awareness of, and effectuates change in behavior regarding, fire safety by students through conducting outreach to students a minimum of twice per academic year and through measures that provide fire safety information to any student upon request; includes minimum instruction regarding fire behavior, fire injury and death, ignition scenarios, fire safety systems and equipment, the importance of means of egress, fire prevention techniques, and actions to be taken if a fire occurs to minimize the potential for death, injury, and property damage; and includes a mechanism for carrying out evaluations of program effectiveness. ED shall publish a report of best practices for initiating, expanding, or improving fire safety education programs.

campus fire safety education act bill directs establish program award grants competitive basis institutions higher education consortiums institutions collaborative partnership nonprofit organization public safety department eligible entity initiating expanding improving fire safety education programs increasing fire safety awareness enrolled students shall priority institutions plan use funds initiate expand improve fire safety education programs include educational material specifically prepared students physical sensory cognitive disabilities bill sets forth provisions grant periods matching requirements eligible entity awarded fiscal year bill eligible entity shall use grant funds initiate expand improve fire safety education program reaches enrolled students institution higher education ensures maximum exposure increases awareness effectuates change behavior fire safety students conducting outreach students minimum twice academic year measures provide fire safety information student request includes minimum instruction fire behavior fire injury death ignition scenarios fire safety systems equipment importance means egress fire prevention techniques actions taken fire occurs minimize potential death injury property damage includes mechanism carrying evaluations program effectiveness shall publish report best practices initiating expanding improving fire safety education programs


Summary:
Access, Success, and Persistence in Reshaping Education Act of 2016 or the ASPIRE Act

This bill amends the Higher Education Act of 1965 by requiring the Department of Education (ED) to rank institutions of higher education based on the percentage of first-time, full-time students who receive Pell Grants and are enrolled at the institutions. The institutions in the bottom 5% must improve the enrollment of those students by specific deadlines or pay a fee-per-student penalty.

Additionally, ED must rank institutions of higher education based on the percentage of first-time, full-time students who enroll at the school and graduate within 6 years. The bill gives institutions in the bottom 5% the option of receiving funding to improve student graduation rates. Those institutions must improve those rates by specific deadlines or pay a penalty.

The bill establishes consumer warning requirements for institutions with low enrollment or graduation rates.

ED must establish: (1) grant programs for improving graduation rates, and (2) a bonus program for providing nonfinancial rewards to institutions of higher education that make college more affordable and increase college access and success for low-income or working class students and moderate-income students.

ED must collect the penalty fees and use them to fund the grant and award program.

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Summary:
Accreditation Reform and Enhanced Accountability Act of 2016

This bill amends the Higher Education Act of 1965 to require the Department of Education (ED) to revise standards governing accreditors of institutions of higher education.

 ED must establish student achievement criteria that accreditors must use when evaluating an institute of higher education, including retention rate, graduation and course completion rates, cohort default rate, repayment rate, transfer rate, student earnings after graduation, and job placement rates, professional and vocational certification and licensing examination pass rates, as applicable. Further, ED must establish criteria for evaluating: (1) the affordability of the institution, (2) actions taken against the institution by any state or the federal government, and (3) enrollment levels of students receiving Pell Grants.

ED must establish baseline thresholds for student achievement measures. Accreditors must require institutions to meet or exceed those thresholds.

Accreditors must: (1) carry out enhanced accreditation review immediately after learning of investigations or lawsuits by federal or state governments about the institution's fraud or abuse, deceptive practices, or material harm to students; and (2) take action when there are signs of institutional instability.

The bill addresses conflicts of interest between accreditors and the institutions.

The bill gives ED additional authority with respect to fining or terminating accreditors.

ED must establish standards for online accreditation disclosures by institutions of higher education.

Accreditors may designate an institution as accredited with distinction or accredited with risk.

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Summary:
Senator Paul Simon Study Abroad Program Act of 2016

This bill authorizes the Department of Education to award grants to institutions of higher education under the Senator Paul Simon Study Abroad Program for encouraging: (1) undergraduate students to study abroad, (2) greater diversity of students studying abroad, and (3) greater diversity in study abroad destinations.

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Summary:
Transparency in Student Lending Act

This bill amends title IV (Student Assistance) of the Higher Education Act of 1965 to expand disclosure requirements for an institution of higher education (IHE) that participates in the Direct Loan program. Specifically, it requires an IHE to disclose, prior to disbursement, the annual percentage rate applicable to a Direct Loan.

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