3.0.0 3589 2023-01-11T13:42:46Z 2023-01-11T13:42:46Z Senate S 2020-05-04 116 sshr00 Health, Education, Labor, and Pensions Committee Senate Standing Referred to 2020-05-04T22:14:32Z Use Your Endowment Act 116 6651 HR 2020-05-01 Referred to the House Committee on Education and Labor. Identical bill CRS 2020-05-04 sshr00 Health, Education, Labor, and Pensions Committee Senate Read twice and referred to the Committee on Health, Education, Labor, and Pensions. IntroReferral 2020-05-04 Introduced in Senate IntroReferral 10000 9 Library of Congress H001089 Sen. Hawley, Josh [R-MO] Josh Hawley R MO N B001243 Sen. Blackburn, Marsha [R-TN] Marsha Blackburn R TN 2020-05-04 True M001197 Sen. McSally, Martha [R-AZ] Martha McSally R AZ 2020-05-04 True R000595 Sen. Rubio, Marco [R-FL] Marco Rubio R FL 2020-05-04 True B001310 Sen. Braun, Mike [R-IN] Mike Braun R IN 2020-05-04 True E000295 Sen. Ernst, Joni [R-IA] Joni Ernst R IA 2020-05-14 False Education Cardiovascular and respiratory health Education programs funding Emergency medical services and trauma care Higher education Infectious and parasitic diseases Student aid and college costs Education 00 2020-05-04 Introduced in Senate 2020-05-11T21:09:41Z Use Your Endowment Act

This bill deems certain institutions of higher education (IHEs) ineligible to receive certain emergency relief funds to address the coronavirus (i.e., the virus that causes COVID-19).

Specifically, an IHE with an endowment greater than $10 billion in 2019 is generally ineligible to receive such funds and must return any funds it received to the Department of Education (ED). However, such an IHE may receive and keep these funds if it provides documentation to ED that it expended 1,000% of the amount of the funds on emergency relief (e.g., financial-aid grants to students).

]]> Use Your Endowment Act Display Title Use Your Endowment Act Short Title(s) as Introduced Use Your Endowment Act Introduced in Senate IS Official Title as Introduced A bill to amend the higher education emergency relief fund under the CARES Act to restrict eligibility to institutions of higher education that owned endowment assets whose average monthly value was equal to or less than $10,000,000,000 in 2019, unless the institution expends additional institutional funds on higher education emergency relief. Introduced in Senate IS Introduced in Senate 2020-05-04T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-116s3589is/xml/BILLS-116s3589is.xml 2020-05-04 Read twice and referred to the Committee on Health, Education, Labor, and Pensions. 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.