3.0.0 5916 2023-01-11T13:39:27Z 2023-01-11T13:39:27Z House HR 2018-05-22 115 [Congressional Record Volume 164, Number 84 (Tuesday, May 22, 2018)]From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]By Mr. REED:H.R. 5916.Congress has the power to enact this legislation pursuantto the following:Article I, Section 8 of the Constitution of the UnitedStates of America[Page H4584]]]> hsed00 Education and the Workforce Committee House Standing Referred to 2018-05-22T14:01:00Z hswm00 Ways and Means Committee House Standing Referred to 2018-05-22T14:00:51Z 2018-05-22 Referred to the Committee on Ways and Means, and in addition to the Committee on Education and the Workforce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. IntroReferral H11100 2 House floor actions hsed00 Education and the Workforce Committee 2018-05-22 Referred to the Committee on Ways and Means, and in addition to the Committee on Education and the Workforce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. IntroReferral H11100 2 House floor actions hswm00 Ways and Means Committee 2018-05-22 Introduced in House IntroReferral Intro-H 9 Library of Congress 2018-05-22 Introduced in House IntroReferral 1000 9 Library of Congress R000585 Rep. Reed, Tom [R-NY-23] Tom Reed R NY 23 N Education Consumer affairs Education of the disadvantaged Education programs funding Educational facilities and institutions Higher education Income tax deductions Licensing and registrations Sales and excise taxes Student aid and college costs Education 00 2018-05-22 Introduced in House 2019-05-14T14:12:33Z Reducing Excessive Debt and Unfair Costs of Education Act of 2018 or the REDUCE Act of 2018

This bill imposes additional taxes on, and limits tax deductions for contributions to, certain institutions of higher education that (1) do not use a specified portion of net investment income for grants to working-family students, or (2) accept certain gifts that are restricted for uses other than scholarships.

A "working-family student" is an individual who (1) is enrolled (part-time or full-time) as an undergraduate student, and (2) whose household income for the year does not exceed 600% of the poverty line for a family of the size involved.

The bill modifies requirements for the tax-exempt status of institutions of higher education by adding requirements regarding (1) plans for limiting tuition increases, and (2) serving students who are eligible for Pell Grants or have household incomes that do not exceed 600% of the poverty line.

The bill also requires institutions of higher education to make certain disclosures regarding net tuition, the management of endowments or investments, institutional aid, and funds provided by parents or grandparents of students.

The revenues from the taxes imposed by this bill must be used to increase funding for the Pell Grant program.

]]> REDUCE Act of 2018 Display Title REDUCE Act of 2018 Official Title as Introduced To amend the Internal Revenue Code of 1986 to impose a tax on institutions of higher education that fail to use 33 percent of the growth in endowment value for grants for working-family students each year, and for other purposes. Introduced in House IH Short Titles as Introduced REDUCE Act of 2018 Short Titles as Introduced Reducing Excessive Debt and Unfair Costs of Education Act of 2018 Introduced in House 2018-05-22T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-115hr5916ih/xml/BILLS-115hr5916ih.xml 2018-05-22 Referred to the Committee on Ways and Means, and in addition to the Committee on Education and the Workforce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. Congressional Research Service, Library of Congress This file contains bill summaries and statuses for federal legislation. A bill summary describes the most significant provisions of a piece of legislation and details the effects the legislative text may have on current law and federal programs. Bill summaries are authored by the Congressional Research Service (CRS) of the Library of Congress. As stated in Public Law 91-510 (2 USC 166 (d)(6)), one of the duties of CRS is "to prepare summaries and digests of bills and resolutions of a public general nature introduced in the Senate or House of Representatives". For more information, refer to the User Guide that accompanies this file.