118 S1295 IS: Federal Employee Student Debt Transparency Act U.S. Senate 2023-04-26 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.

II118th CONGRESS1st SessionS. 1295IN THE SENATE OF THE UNITED STATESApril 26, 2023Mr. Budd (for himself, Mr. Marshall, and Mr. Braun) introduced the following bill; which was read twice and referred to the Committee on Homeland Security and Governmental AffairsA BILLTo amend chapter 131 of title 5, United States Code, to require Senior Executive Service and schedule C employees to disclose Federal student loan debt, and for other purposes.

1.

Short title

This Act may be cited as the Federal Employee Student Debt Transparency Act.

2.

Disclosure of Federal student loan debt by SES and schedule C employees

Section 13104 of title 5, United States Code, is amended by adding at the end the following: (j)

Disclosure of Federal student loan debt by SES and schedule C employees

(1)

Definition

In this subsection, the term covered employee means an employee of the executive branch who occupies—(A)a Senior Executive Service position (as defined in section 3132(a)); or(B)a position of a confidential or policy-determining nature under schedule C of subpart C of part 213 of title 5, Code of Federal Regulations, or any successor regulation. (2)

Reports by covered employees

Not later than 60 days after the date of enactment of the Federal Employee Student Debt Transparency Act, and not later than February 28 of each year thereafter, each covered employee shall file a report containing a full and complete statement of the outstanding balance of principal and interest owed by the covered employee on—(A)each loan made under part D of title IV of the Higher Education Act of 1965 (20 U.S.C. 1087a et seq.); and(B)any loan made, insured, or guaranteed under part B or E of such title (20 U.S.C. 1071 et seq., 1087aa et seq.).(3)

New covered employees

Not later than 60 days after the date on which an individual assumes the position of a covered employee, the individual shall file a report containing the information required under paragraph (2).(4)

Reports to Congress

Not later than May 1 of each year, the Director of the Office of Government Ethics shall transmit to Congress a report containing—(A)the total amount owed by all covered employees as reported pursuant to paragraphs (2) and (3); and(B)the name of any covered employee who failed to file or report any information required to be reported pursuant to paragraph (2) or (3)..