[Congressional Bills 114th Congress]
[From the U.S. Government Publishing Office]
[H.R. 939 Introduced in House (IH)]

114th CONGRESS
  1st Session
                                H. R. 939

    To require the Secretary of Education to use the excess revenue 
generated from the William D. Ford Federal Direct Loan Program to carry 
                  out the Federal Pell Grant Program.


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                    IN THE HOUSE OF REPRESENTATIVES

                           February 12, 2015

   Mr. Kind introduced the following bill; which was referred to the 
                Committee on Education and the Workforce

_______________________________________________________________________

                                 A BILL


 
    To require the Secretary of Education to use the excess revenue 
generated from the William D. Ford Federal Direct Loan Program to carry 
                  out the Federal Pell Grant Program.

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

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Pell Grant Funding Act''.

SEC. 2. APPLYING EXCESS REVENUE TO FEDERAL PELL GRANTS.

    The Secretary of Education shall--
            (1) as soon as practicable after the end of a fiscal year, 
        determine whether during such fiscal year the William D. Ford 
        Federal Direct Loan Program under part D of title IV of the 
        Higher Education Act of 1965 (20 U.S.C. 1087a et seq.) 
        generated any revenue in excess of the amount that was 
        necessary to cover the costs of carrying out such Program for 
        such fiscal year; and
            (2) if such excess revenue was generated, use such excess 
        revenue to carry out the Federal Pell Grant Program under 
        subpart 1 of part A of title IV of the Higher Education Act of 
        1965 (20 U.S.C. 1070a) for the succeeding fiscal year.
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