[Congressional Bills 117th Congress]
[From the U.S. Government Publishing Office]
[S. 4106 Introduced in Senate (IS)]
<DOC>
117th CONGRESS
2d Session
S. 4106
To establish an alternative, outcomes-based process for authorizing
innovative, high-quality higher education providers to participate in
programs under title IV of the Higher Education Act of 1965.
_______________________________________________________________________
IN THE SENATE OF THE UNITED STATES
April 28, 2022
Mr. Bennet (for himself and Mr. Rubio) introduced the following bill;
which was read twice and referred to the Committee on Health,
Education, Labor, and Pensions
_______________________________________________________________________
A BILL
To establish an alternative, outcomes-based process for authorizing
innovative, high-quality higher education providers to participate in
programs under title IV of the Higher Education Act of 1965.
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 ``Higher Education Innovation Act''.
SEC. 2. ALTERNATIVE AUTHORIZATION SYSTEM.
Part H of title IV of the Higher Education Act of 1965 (20 U.S.C.
1099a et seq.) is amended by adding at the end the following:
``Subpart 4--Alternative Authorization System
``SEC. 498C. ALTERNATIVE AUTHORIZATION SYSTEM.
``(a) Definitions.--In this section:
``(1) Innovation authorizer.--The term `innovation
authorizer' or `authorizer' means an entity that has been
approved by the Secretary to carry out authorization of
eligible entities.
``(2) Eligible entity.--The term `eligible entity' means an
institution of higher education or another entity that--
``(A) promotes and supports student success
outcomes and cost-effectiveness in postsecondary
education;
``(B) provides an educational program--
``(i) that leads to a degree or
certificate;
``(ii) of course bundles; or
``(iii) that leads to an industry-
recognized credential that meets the
requirements for licensing in the relevant
field;
``(C) agrees to specified outcome-based oversight
and reporting requirements described in this section;
``(D) demonstrates that the entity provides high-
quality education by meeting or exceeding the minimum
thresholds for each of the performance metrics that are
required by the innovation authorizer in accordance
with subsection (b) and which are developed in
accordance with subsection (d);
``(E) meets the definition of an institution of
higher education under section 101 or 102, except that
the entity need not meet the requirements described
in--
``(i) section 101(a)(5);
``(ii) section 102(b)(1)(A)(ii)(II); or
``(iii) 102(b)(1)(D); and
``(F) meets the other requirements for
participation in this title.
``(3) Teach-out plan.--The term `teach-out plan' means a
written plan that provides for the equitable treatment of
students if an eligible entity ceases to operate before all
students have completed their program of study, and may
include, if required by the Secretary, an agreement between
eligible entities or between an eligible entity and another
institution for such a teach-out plan.
``(4) Course bundle.--The term `course bundle' means a
series of courses, or the equivalent, that lead to--
``(A) proficiency in a set of marketable skills or
competencies; or
``(B) an industry-recognized credential that meets
the requirements for licensing in the relevant field.
``(5) Completion.--The term `completion' means--
``(A) in the case of a course bundle--
``(i) completion of a series of courses--
``(I) that lead to proficiency in a
set of marketable skills or
competencies; or
``(II) that result in an industry-
recognized credential that meets the
requirements for licensing in the
relevant field; or
``(ii) successful completion of a set of
assessments--
``(I) that demonstrates proficiency
in a set of marketable skills or
competencies; or
``(II) that results in an industry-
recognized credential that meets the
requirements for licensing in the
relevant field; and
``(B) in the case of a program leading to a
certificate or degree, receipt of the certificate or
degree.
``(b) Approval of Innovation Authorizers.--
``(1) In general.--The Secretary shall establish a process
for approving innovation authorizers to carry out the
authorization of eligible entities.
``(2) Request for applications.--Not later than 275 days
after the date of enactment of this subpart, the Secretary
shall publish a request for applications from entities that
desire to become innovation authorizers. Any accrediting agency
or association currently recognized by the Secretary or any
entity not currently recognized by the Secretary may apply to
be approved as innovation authorizers.
``(3) Application requirements.--An entity that desires to
be approved by the Secretary as an innovation authorizer under
paragraph (1) shall submit an application to the Secretary that
includes the following information:
``(A) Information on the entity's prior experience
as an authorizer, accreditor, programmatic accreditor,
or industry validator, or strong evidence and history
that demonstrates the entity is equipped to be a high-
quality authorizer.
``(B) An explanation of why the entity is qualified
and capable of being an innovation authorizer,
accompanied by supporting documentation.
``(C) Evidence that the entity is financially able
to meet the requirements for authorizing eligible
entities, including the requirements under paragraph
(7).
``(D) A description of the process that the entity
will use for awarding authorization, and suspending or
revoking an eligible entity's authorization,
including--
``(i) the performance metrics the
authorizer will use in making determinations
about authorization, which shall meet the
requirements described under subsection (d);
``(ii) the minimum threshold for each
performance metric described in clause (i),
which shall require an eligible entity to meet
or exceed the 60th-percentile student outcome
for each such performance metric in order to be
awarded authorization by the innovation
authorizer;
``(iii) any other criteria or metrics that
the entity will use as an innovation authorizer
to award authorization status to an eligible
entity, if applicable; and
``(iv) the process for--
``(I) monitoring authorized
eligible entities, ensuring that each
eligible entity continues to meet the
criteria for authorization (including
the threshold for each applicable
performance metric as described in
clause (ii)); and
``(II) ensuring the accuracy and
validity of data.
``(E) A description of the entity's area of
educational or subject matter focus, if applicable.
``(F) The composition or membership of the entity
that seeks to become an innovation authorizer, and the
entity's relationship or work with applicable
industries and businesses.
``(G) A demonstration that the entity has--
``(i) clear and effective controls to
protect against conflicts of interest, or the
appearance of conflicts of interest, between
the entity that wishes to be an innovation
authorizer and eligible entities (including
controls regarding potential conflicts of
interest between board members, commissioners,
evaluation team members, consultants,
administrative staff, and other representatives
of the entity that wishes to be an authorizer
and eligible entities); and
``(ii) requirements to ensure that, as an
authorizer, the entity and the staff, and
representatives of the entity will be separate
and independent (as defined in section 496(b)),
both administratively and financially, from any
eligible entities and will receive no benefit,
financial or otherwise, from authorizing an
eligible entity.
``(H) An agreement that the entity will make
applicable authorization data, documents, and
determinations publicly available.
``(4) Dissemination of information.--For the purpose of
determining minimum thresholds for performance metrics under
paragraph (3)(D)(ii) and subsection (d)(1)(B), the Secretary
shall--
``(A) disseminate to innovation authorizers, on an
annual basis, information about 60th-percentile student
outcomes on the performance criteria described under
subsection (d), in the aggregate for all students and
disaggregated by student income quartile and field of
study; and
``(B) provide the information described in
subparagraph (A) to an innovation authorizer or an
entity that wishes to apply to become an innovation
authorizer upon request.
``(5) Limitation, suspension, or termination of authorizer
approval.--
``(A) Notice and opportunity for correction.--If
the Secretary determines that an innovation authorizer
has failed to apply and effectively enforce the
performance criteria, including the minimum thresholds
for such criteria, specified in the innovation
authorizer's application under paragraph (3) in
awarding, monitoring, and revoking authorization status
for eligible entities, the Secretary shall provide
notice to the innovation authorizer and give the
innovation authorizer a 6-month period to apply and
enforce the performance criteria and minimum thresholds
described in the innovation authorizer's application
under paragraph (3).
``(B) Limitation, suspension, or termination.--If,
after the 6-month period described in subparagraph (A),
the Secretary determines that an innovation authorizer
has still failed to effectively enforce the performance
criteria and minimum thresholds specified in that
innovation authorizer's application under paragraph
(3), the Secretary shall limit, suspend, or terminate
the recognition of that innovation authorizer.
``(6) Loss of authorizer approval.--In the case of an
eligible entity authorized by an innovation authorizer whose
recognition has been limited, suspended, or terminated by the
Secretary--
``(A) if the eligible entity successfully
demonstrates to the Secretary that the eligible entity
meets the performance criteria and minimum thresholds
that such authorizer specified in its application under
paragraph (3), the eligible entity shall have 6 months
to apply for accreditation by another accrediting
agency or association or authorization by another
innovation authorizer; or
``(B) the eligible entity shall prepare a teach-out
plan that meets the Secretary's regulations for teach-
out plans and shall submit such plan to the Secretary.
``(7) Authorizer risk sharing.--Each innovation authorizer
shall enter into an agreement with the Secretary whereby the
innovation authorizer agrees to pay the Secretary an amount
equal to not less than 25 percent of the amount of Federal
student loans that are held by current and former students of
any eligible entity authorized by the innovation authorizer
under subsection (d) and that are in default each fiscal year.
``(c) Eligibility for Federal Pell Grant Funding.--Eligible
entities that are authorized by an innovation authorizer shall be
eligible to receive Federal Pell Grant funding in accordance with
subsection (f).
``(d) Authorization by an Innovation Authorizer.--
``(1) Authorization process.--
``(A) In general.--An innovation authorizer may
authorize an eligible entity, if--
``(i) that eligible entity meets the
criteria under subsection (a)(2); and
``(ii) in the case of--
``(I) an eligible entity that has
not carried out an educational program
for more than 2 years, the eligible
entity agrees to, and describes a high-
quality, evidence-based plan to, meet
within 2 years the specific performance
metrics and minimum thresholds required
by the innovation authorizer in
accordance with subsection (b)(3)(D);
and
``(II) an eligible entity that has
carried out an educational program for
more than 2 years, the eligible entity
demonstrates that the eligible entity
meets the specific performance metrics
and minimum thresholds required by the
innovation authorizer in accordance
with subsection (b)(3)(D).
``(B) Performance metrics.--
``(i) In general.--In accordance with
subparagraph (C), each innovation authorizer
shall--
``(I) use, in order to determine
whether to award authorization to an
eligible entity, not less than--
``(aa) 1 performance metric
relating to student learning,
as described in clause (ii);
``(bb) the performance
metric relating to completion,
as described in clause (iii);
and
``(cc) 2 performance
metrics relating to the benefit
to the student and
affordability, as described in
clause (iv);
``(II) establish the minimum
thresholds for each performance metric
that the eligible entity must meet or
exceed in order to be authorized by the
authorizer in accordance with
subsection (b)(3)(D)(ii), ensuring that
each minimum threshold meets or exceeds
the 60th-percentile student outcome for
the performance metric; and
``(III) in the determination about
whether an eligible entity meets the
required threshold for authorization
for each performance metric, include
data from all students who enroll in
the eligible entity.
``(ii) Student learning.--The performance
metrics relating to student learning are the
following:
``(I) A nationally defined,
demonstrated, objective, and verifiable
measure of student learning, including
a measure of the knowledge or skills
gained by the student from the
educational program or institution.
``(II) Demonstrated quality based
on an evaluation conducted by an
independent evaluator that uses
evaluation criteria approved by the
What Works Clearinghouse of the
Institute of Education Sciences and
shows statistically significant
increases in student learning.
``(III) Pass rates and overall
scores on qualifying or licensing
examinations.
``(iii) Completion.--
``(I) In general.--The performance
metric relating to completion is the
percentage of all students who complete
the educational program and each
program of study in--
``(aa) 100 percent of the
normal time for completion of
each program of study;
``(bb) 150 percent of the
normal time for completion of
each program of study; and
``(cc) 200 percent of the
normal time for completion of
each program of study.
``(II) Transfer students.--In
determining the percentage under
subclause (I), an eligible entity may
include the students in each program of
study who transfer and successfully
complete a program of study.
``(iv) Benefit to student and
affordability.--The performance metrics
relating to benefit to the student and
affordability are the following:
``(I) Rates of employment or
enrollment in and completion of
graduate or professional school.
``(II) Increases in income for
students.
``(III) The cost of tuition and
fees, the net price disaggregated by
income quintile and educational
program, and the median total loan debt
accrued by students who were enrolled
in the eligible entity.
``(IV) Student loan repayment rates
for Federal and private student loans,
if applicable.
``(V) Median income of students who
were enrolled in the eligible entity.
``(C) Data source.--When an innovation authorizer
uses data about income or employment, as described in
subparagraph (B)(iv), the following provisions shall
apply:
``(i) The innovation authorizer shall use
wage data gathered in accordance with clauses
(iii) and (iv) and shall disaggregate such data
(except that such disaggregation shall not be
required in a case in which the results would
reveal personally identifiable information
about an individual student), by--
``(I) educational program based on
the Classification of Instructional
Programs Code developed by the National
Center for Education Statistics;
``(II) credential received;
``(III) noncompleters;
``(IV) eligible entity; and
``(V) State and region of
employment.
``(ii) The innovation authorizer shall
include data for--
``(I) 1 year after educational
program completion;
``(II) 3 years after educational
program completion; and
``(III) 5 years after educational
program completion.
``(iii) Notwithstanding any other provision
of law, the Secretary, in cooperation with the
Commissioner of Social Security, and each
eligible entity whose wage data will be
evaluated in accordance with subparagraph
(B)(iv) shall establish a system through which
relevant data may be retrieved from the Social
Security Administration, including data on
median annual earnings and employment metrics.
``(iv) The Secretary, innovation
authorizers, and eligible entities shall not
share personally identifiable information of a
student in carrying out this subparagraph,
except as necessary to enable individuals who
are employed by the Department to meet the
reporting requirements and data dissemination
purposes and requirements under this Act.
``(D) Transparency.--Notwithstanding the specific
performance metrics used by any specific authorizer,
each authorized eligible entity shall make public and
disaggregate information on all of the metrics
described under subparagraph (B) for the eligible
entity as a whole and for each educational program of
the eligible entity, as applicable.
``(2) Renewing authorization.--An innovation authorizer
shall require each eligible entity that has been authorized by
the innovation authorizer to have the eligible entity's
authorization renewed not later than 2 years after the eligible
entity is first authorized, and not later than every 5 years
thereafter.
``(3) Loss of authorization.--
``(A) In general.--An innovation authorizer shall
remove an eligible entity from authorized status if,
for 2 consecutive calendar years, that eligible entity
falls below the minimum threshold for any performance
metric required for authorization by the innovation
authorizer in accordance with subsection (b)(3)(D).
``(B) Petition to regain authorization.--An
eligible entity that is removed from authorized status
may petition an innovation authorizer to regain
authorization by demonstrating to the innovation
authorizer that the eligible entity is ensuring quality
and student success and has met, and will continue to
meet, the minimum thresholds for each performance
metric required for authorization by the innovation
authorizer in accordance with subsection (b)(3)(D).
``(4) Accreditation deemed.--Authorization by an innovation
authorizer approved by the Secretary under this section shall
be deemed recognized accreditation for purposes of title IV.
``(e) Accreditation and Authorization; Changing Accreditors or
Authorizers.--
``(1) Accreditation and authorization.--An eligible entity
that otherwise meets the requirements for authorization by an
innovation authorizer and the requirements for accreditation by
a recognized accrediting agency or association may hold
accreditation and authorization from both entities.
``(2) Changing accreditors or authorizers.--An eligible
entity that otherwise meets the relevant requirements for
accreditation or authorization may notify the Secretary and
change accreditation or authorization status--
``(A) from an innovation authorizer to a recognized
accrediting agency or association; or
``(B) from a recognized accrediting agency or
association to an innovation authorizer.
``(f) Eligibility for Federal Pell Grant Funding.--
``(1) Authorizer federal pell grant funding requirements.--
``(A) Aggregate innovation authorizer federal pell
grant cap.--
``(i) Individual authorizer cap.--The
Secretary shall determine, in accordance with
subparagraph (B) for each award year and for
each innovation authorizer, the total maximum
amount of Federal Pell Grant funds that all
eligible entities that are authorized by a
given innovation authorizer may receive through
tuition and fee payments from enrolled students
who receive a Federal Pell Grant.
``(ii) Aggregate authorizer cap.--The
Secretary shall determine each innovation
authorizer Federal Pell Grant cap, as described
in clause (i), in a manner that ensures that
the aggregate amount of Federal Pell Grant
funds that all eligible entities authorized by
all innovation authorizers receive each year
does not exceed 0.5 percent of total Federal
Pell Grant funding for the previous award year.
``(B) Individual innovation authorizer federal pell
grant cap.--The Secretary shall determine each
innovation authorizer's cap under subparagraph (A)(i)
based on--
``(i) the authorizer's experience and track
record of awarding authorization to eligible
entities; and
``(ii) the performance criteria and minimum
thresholds that the authorizer uses in
determining whether to award authorization to
eligible entities, as specified in subsection
(b)(3)(D).
``(2) Eligible entity federal pell grant funding
requirements.--
``(A) In general.--An eligible entity that is
authorized by an innovation authorizer in accordance
with this section is eligible to receive Federal Pell
Grant funds in accordance with subparagraphs (B), (C),
and (D).
``(B) Eligible entity total cap on federal pell
grant funding.--Each award year, an eligible entity
described in subparagraph (A) will be eligible to
receive (through tuition and fee payments from enrolled
students) a maximum total amount of Federal Pell Grant
funding that--
``(i) shall be determined by the innovation
authorizer;
``(ii) shall be determined in a manner so
as to ensure that the innovation authorizer
does not exceed the innovation authorizer's
Federal Pell Grant cap;
``(iii) shall be based on the eligible
entity's history and track record of meeting or
exceeding the relevant performance metrics
minimum thresholds; and
``(iv) shall not exceed 15 percent of total
Federal Pell Grant funding for eligible
entities authorized by the innovation
authorizer for the previous award year.
``(C) Federal pell grant allocations.--
``(i) Full federal pell grant.--An eligible
entity authorized by an innovation authorizer
that provides validated documentation from an
independent evaluator that the eligible entity
has met or exceeded the minimum thresholds for
each of the authorizer's performance metrics
for at least 5 consecutive years shall be
eligible to receive up to the full amount of
Federal Pell Grant funding that each enrolled
student is eligible to receive, subject to the
cap described in subparagraph (B).
``(ii) 50-percent reimbursement federal
pell grant.--An eligible entity authorized by
an innovation authorizer that provides
validated documentation from an independent
evaluator that the eligible entity has met or
exceeded the minimum thresholds for each of the
authorizer's performance metrics for at least 3
consecutive years but less than 5 consecutive
years and has been determined by such
authorizer to have a strong evidence basis for
continuing to annually meet such minimum
thresholds for each performance metric shall be
eligible for a pay for performance contract
with the following terms:
``(I) The eligible entity shall be
eligible to receive up to 50 percent of
the amount of Federal Pell Grant
funding that each enrolled student is
eligible to receive, subject to the cap
described in subparagraph (B).
``(II) The eligible entity shall
provide a bond or matching funds to pay
for the remaining 50 percent of the
amount of Federal Pell Grant funding
that each enrolled student is otherwise
eligible to receive.
``(III) The Secretary shall
reimburse the eligible entity for an
amount equal to the amount that the
eligible entity provided under
subclause (II) for each enrolled
student, except that such amount may
not exceed the remaining cost of
tuition and fees for each student--
``(aa) for whom the
eligible entity provided
matching funds as described in
subclause (II); and
``(bb) who successfully
completes the educational
program.
``(iii) 75-percent reimbursement federal
pell grant.--An eligible entity authorized by
an innovation authorizer that provides
validated documentation from an independent
evaluator that the eligible entity has met or
exceeded the minimum thresholds for each of the
authorizer's performance metrics for at least 1
year but less than 3 consecutive years and has
been determined by such authorizer to have a
strong evidence basis for continuing to
annually meet such minimum thresholds for each
performance metric shall be eligible for a pay
for performance contract with the following
terms:
``(I) The eligible entity shall be
eligible to receive up to 25 percent of
the amount of Federal Pell Grant
funding that each enrolled student is
eligible to receive, subject to the cap
described in subparagraph (B).
``(II) The eligible entity shall
provide--
``(aa) a bond for 25
percent of the amount of
Federal Pell Grant funding that
each enrolled student is
otherwise eligible to receive;
and
``(bb) a bond or matching
funds for the remaining 75
percent of the amount of
Federal Pell Grant funding that
each enrolled student is
otherwise eligible to receive.
``(III) If the eligible entity
meets the minimum thresholds for each
of the authorizer's performance metrics
for 2 consecutive years after the date
of the pay for performance contract,
the Secretary shall reimburse the
eligible entity for an amount equal to
the amount that the eligible entity
provided under subclause (II)(bb) for
each enrolled student, except that such
amount may not exceed the remaining
cost of tuition and fees for each
student--
``(aa) for whom the
eligible entity provided
matching funds as described in
subclause (II)(bb); and
``(bb) who successfully
completes the educational
program.
``(IV) If the eligible entity fails
to meet the minimum thresholds for each
of the authorizer's performance
criteria for 2 consecutive years after
the date of the contract, the eligible
entity shall reimburse the Federal
Government in an amount equal to the
amount described in subclause (I).
``(iv) 100-percent reimbursement federal
pell grant.--An eligible entity that has no
track record of meeting, exceeding, or failing
to meet the minimum thresholds for each of the
authorizer's performance metrics, and that has
been determined by an innovation authorizer to
have a strong and rigorous evidence base
demonstrating an ability to consistently and
annually meet or exceed the minimum thresholds
for each of the performance metrics of that
innovation authorizer shall be eligible for a
pay for performance contract with the following
terms:
``(I) The eligible entity shall
provide funds equal to 100 percent of
the amount of Federal Pell Grant
funding that each enrolled student is
otherwise eligible to receive.
``(II) If the eligible entity meets
the minimum thresholds for each of the
authorizer's performance metrics for 2
consecutive years after the date of the
pay for performance contract, the
Secretary shall reimburse the eligible
entity for an amount equal to the
amount that the eligible entity
provided under subclause (I) for each
enrolled student, except that such
amount may not exceed the remaining
cost of tuition and fees for each
student--
``(aa) for whom the
eligible entity provided funds
as described in subclause (I);
and
``(bb) who successfully
completes the educational
program.
``(D) Federal pell grant amount treated as
payment.--Notwithstanding the actual amount of Federal
Pell Grant funding that an eligible entity receives
(which, in accordance with subparagraphs (B) and (C),
may not be the full amount of Federal Pell Grant
funding that each enrolled student who is eligible for
a Federal Pell Grant is eligible to receive), an
eligible entity--
``(i) shall treat each student as having
paid the total amount of Federal Pell Grant
funding for which the student is eligible;
``(ii) shall not charge students additional
tuition or fees to compensate for any amount of
Federal Pell Grant funding for which the
eligible entity--
``(I) must provide a bond or
matching funds or for which the
eligible entity otherwise must wait for
reimbursement under subparagraph (C);
or
``(II) may fail to receive due to a
cap described under subparagraph (B);
and
``(iii) shall not charge a higher amount of
tuition or fees to a student who is eligible
for a Federal Pell Grant.
``(E) Rule of construction.--Nothing in
subparagraph (D) shall be construed as prohibiting an
eligible entity from reducing the amount of tuition and
fees the eligible entity charges to a student who is
eligible for a Federal Pell Grant based on student
need.
``(F) Students exceeding cap.--An eligible entity
may elect to enroll students whose collective
eligibility for Federal Pell Grants would otherwise
result in the eligible entity exceeding the cap under
subparagraph (B) but such eligible entity shall comply
with subparagraph (D).
``(3) Federal pell grant eligibility for students.--
``(A) In general.--A student may receive a Federal
Pell Grant and use funding from such grant to attend an
eligible entity or a program of an eligible entity that
is authorized by an innovation authorizer under this
subpart if the student meets the other requirements for
receiving a Federal Pell Grant, as described in section
401.
``(B) Eligibility period.--For the purpose of
calculating a student's remaining period of eligibility
for Federal Pell Grant funding under section 401, the
Secretary shall consider only Federal Pell Grant
funding actually paid to an eligible entity on behalf
of the student, in accordance with subparagraphs (B)
and (C) of paragraph (2).
``(g) Access to Title IV Funding.--
``(1) Continuation of title iv eligibility.--An institution
of higher education that was eligible to participate in, and
receive funding under, this title prior to seeking and gaining
authorization under this section may petition the Secretary to
continue to be eligible to receive loans made under this title
if the institution is an eligible entity described under clause
(i) or (ii) of subsection (f)(2)(C).
``(2) Recommendations.--Not later than 2 years after the
date of enactment of this subpart, the Secretary, in
consultation with innovation authorizers, eligible entities,
and stakeholders, shall make recommendations to Congress
regarding a process for providing all eligible entities with
access to loans made under this title.
``(h) Reports.--
``(1) Reports from authorized eligible entities to
innovation authorizers.--Each eligible entity that is
authorized by an innovation authorizer shall prepare and submit
an annual report to the innovation authorizer containing such
information as that innovation authorizer may require.
``(2) Reports from innovation authorizers to the
secretary.--Each innovation authorizer shall prepare and submit
an annual report to the Secretary containing such information
as the Secretary may require.''.
SEC. 3. TERMINATION OF APPROPRIATIONS.
No funds shall be authorized to carry out this Act, including the
amendments made by this Act, 5 years after the date of enactment of
this Act.
SEC. 4. TERMINATION OF AUTHORIZATION.
Subpart 4 of part H of title IV of the Higher Education Act of
1965, as added by section 2, shall expire on the date that is 5 years
after the date of enactment of this Act.
<all>