[Congressional Bills 105th Congress]
[From the U.S. Government Publishing Office]
[H.R. 529 Introduced in House (IH)]







105th CONGRESS
  1st Session
                                H. R. 529

   To amend the Higher Education Act of 1965 to exempt certain small 
  lenders from the audit requirements of the guaranteed student loan 
                                program.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                            February 4, 1997

   Mr. Ewing (for himself and Mr. Lewis of Kentucky) introduced the 
 following bill; which was referred to the Committee on Education and 
                             the Workforce

_______________________________________________________________________

                                 A BILL


 
   To amend the Higher Education Act of 1965 to exempt certain small 
  lenders from the audit requirements of the guaranteed student loan 
                                program.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. EXEMPTION FROM AUDIT REQUIREMENT.

    Section 428(b)(1)(U)(iii) of the Higher Education Act of 1965 (20 
U.S.C. 1078(b)(1)(U)(iii)) is amended by inserting after ``compliance 
audit of each lender'' the following: ``that has a loan portfolio under 
this part that exceeds $10,000,000''.
                                 <all>