[Congressional Record Volume 153, Number 166 (Tuesday, October 30, 2007)]
[House]
[Pages H12193-H12195]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]
{time} 1445
THIRD HIGHER EDUCATION EXTENSION ACT OF 2007
Mr. YARMUTH. Mr. Speaker, I move to suspend the rules and pass the
Senate bill (S. 2258) to temporarily extend the programs under the
Higher Education Act of 1965, to amend the definition of an eligible
not-for-profit holder, and for other purposes.
The Clerk read the title of the Senate bill.
The text of the Senate bill is as follows:
S. 2258
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 ``Third Higher Education
Extension Act of 2007''.
SEC. 2. EXTENSION OF PROGRAMS.
Section 2(a) of the Higher Education Extension Act of 2005
(Public Law 109-81; 20
[[Page H12194]]
U.S.C. 1001 note) is amended by striking ``October 31, 2007''
and inserting ``March 31, 2008''.
SEC. 3. RULE OF CONSTRUCTION.
Nothing in this Act, or in the Higher Education Extension
Act of 2005 as amended by this Act, shall be construed to
limit or otherwise alter the authorizations of appropriations
for, or the durations of, programs contained in the
amendments made by the Higher Education Reconciliation Act of
2005 (Public Law 109-171) or by the College Cost Reduction
and Access Act (Public Law 110-84) to the provisions of the
Higher Education Act of 1965 and the Taxpayer-Teacher
Protection Act of 2004.
SEC. 4. DEFINITION OF ELIGIBLE NOT-FOR-PROFIT HOLDER.
Section 435(p) of the Higher Education Act of 1965 (20
U.S.C. 1085(p)) is amended --
(1) in paragraph (1), by striking subparagraph (D) and
inserting the following:
``(D) acting as a trustee on behalf of a State, political
subdivision, authority, agency, instrumentality, or other
entity described in subparagraph (A), (B), or (C), regardless
of whether such State, political subdivision, authority,
agency, instrumentality, or other entity is an eligible
lender under subsection (d).''; and
(2) in paragraph (2)--
(A) in subparagraph (A)(i), by striking subclause (II) and
inserting the following:
``(II) is acting as a trustee on behalf of a State,
political subdivision, authority, agency, instrumentality, or
other entity described in subparagraph (A), (B), or (C) of
paragraph (1), regardless of whether such State, political
subdivision, authority, agency, instrumentality, or other
entity is an eligible lender under subsection (d), and such
State, political subdivision, authority, agency,
instrumentality, or other entity, on the date of enactment of
the College Cost Reduction and Access Act, was the sole
beneficial owner of a loan eligible for any special allowance
payment under section 438.'';
(B) in subparagraph (A)(ii), by inserting ``of'' after
``waive the requirements'';
(C) by amending subparagraph (B) to read as follows:
``(B) No for-profit ownership or control.--
``(i) In general.--No State, political subdivision,
authority, agency, instrumentality, or other entity described
in paragraph (1)(A), (B), or (C) shall be an eligible not-
for-profit holder under this Act if such State, political
subdivision, authority, agency, instrumentality, or other
entity is owned or controlled, in whole or in part, by a for-
profit entity.
``(ii) Trustees.--A trustee described in paragraph (1)(D)
shall not be an eligible not-for-profit holder under this Act
with respect to a State, political subdivision, authority,
agency, instrumentality, or other entity described in
subparagraph (A), (B), or (C) of paragraph (1), regardless of
whether such State, political subdivision, authority, agency,
instrumentality, or other entity is an eligible lender under
subsection (d), if such State, political subdivision,
authority, agency, instrumentality, or other entity is owned
or controlled, in whole or in part, by a for-profit
entity.'';
(D) by amending subparagraph (C) to read as follows:
``(C) Sole ownership of loans and income.--No State,
political subdivision, authority, agency, instrumentality,
trustee, or other entity described in paragraph (1)(A), (B),
(C), or (D) shall be an eligible not-for-profit holder under
this Act with respect to any loan, or income from any loan,
unless--
``(i) such State, political subdivision, authority, agency,
instrumentality, or other entity is the sole beneficial owner
of such loan and the income from such loan; or
``(ii) such trustee holds the loan on behalf of a State,
political subdivision, authority, agency, instrumentality, or
other entity described in subparagraph (A), (B), or (C) of
paragraph (1), regardless of whether such State, political
subdivision, authority, agency, instrumentality, or other
entity is an eligible lender under subsection (d), and such
State, political subdivision, authority, agency,
instrumentality, or other entity is the sole beneficial owner
of such loan and the income from such loan.'';
(E) in subparagraph (D), by striking ``an entity described
in described in paragraph (1)(A), (B), or (C)'' and inserting
``a State, political subdivision, authority, agency,
instrumentality, or other entity described in subparagraph
(A), (B), or (C) of paragraph (1), regardless of whether such
State, political subdivision, authority, agency,
instrumentality, or other entity is an eligible lender under
subsection (d),''; and
(F) by amending subparagraph (E) to read as follows:
``(E) Rule of construction.--For purposes of subparagraphs
(A), (B), (C), and (D) of this paragraph, a State, political
subdivision, authority, agency, instrumentality, or other
entity described in subparagraph (A), (B), or (C) of
paragraph (1), regardless of whether such State, political
subdivision, authority, agency, instrumentality, or other
entity is an eligible lender under subsection (d), shall
not--
``(i) be deemed to be owned or controlled, in whole or in
part, by a for-profit entity; or
``(ii) lose its status as the sole owner of a beneficial
interest in a loan and the income from a loan,
by such State, political subdivision, authority, agency,
instrumentality, or other entity, or by the trustee described
in paragraph (1)(D), granting a security interest in, or
otherwise pledging as collateral, such loan, or the income
from such loan, to secure a debt obligation for which such
State, political subdivision, authority, agency,
instrumentality, or other entity is the issuer of the debt
obligation.''.
The SPEAKER pro tempore. Pursuant to the rule, the gentleman from
Kentucky (Mr. Yarmuth) and the gentleman from California (Mr. McKeon)
each will control 20 minutes.
The Chair recognizes the gentleman from Kentucky.
General Leave
Mr. YARMUTH. Mr. Speaker, I request 5 legislative days during which
Members may insert material relevant to S. 2258 into the Record.
The SPEAKER pro tempore. Is there objection to the request of the
gentleman from Kentucky?
There was no objection.
Mr. YARMUTH. Mr. Speaker, I yield myself such time as I may consume.
(Mr. YARMUTH asked and was given permission to revise and extend his
remarks.)
Mr. YARMUTH. Mr. Speaker, I rise in support of S. 2258, a bill to
extend programs under the Higher Education Extension Act of 1965.
In addition to extending the current programs under the Higher
Education Act for 5 months until March 31, 2009, the bill also makes a
necessary technical correction to the College Cost Reduction and Access
Act with respect to nonprofit lenders. This language will ensure the
designation of a nonprofit lender will go to those that Congress
intended.
During this Congress we have made significant commitments to our
Nation's students and families by putting resources in the hands of
those most in need. H.R. 2669, as passed and signed by the President,
does more to help Americans pay for college than any effort since the
GI Bill at no new cost to taxpayers.
Specifically, the legislation provided a landmark investment of $20
million in additional funding for Pell Grants, reductions in the
interest rate on student loans, and the creation of programs to help
students manage debt, as well as encourage individuals to pursue public
service.
Providing this critical funding is a large part of our efforts to
increase access on affordability to higher education. The next step is
to work on policies that further support access and affordability, such
as campus-based aid, TRIO, GEAR-UP, teacher education and the other
programs that make up the Higher Education Act.
Additionally, we realize that millions of Americans are deeply
worried about whether they can afford to send their kids to college or
how they will be able to pay the bills while also paying off
substantial student loan debt. Looking at how the Federal Government
can assist in addressing the rising cost of college will also be a key
part of the reauthorization of the Higher Education Act.
I look forward to working with Chairman Miller and the other members
of the committee to complete work on the Higher Education Act.
Mr. Speaker, I reserve the balance of my time.
Mr. McKEON. Mr. Speaker, I yield myself such time as I may consume.
Mr. Speaker, the House began this exercise last week granting a
temporary extension of programs under the Higher Education Act. We did
the same thing in July of this year and in June, and we did it a half
dozen times before that. For the most part, these extensions have been
clean, simply maintaining current law. Unfortunately, they are now
becoming more complicated.
Earlier this year, Congress passed a package of student aid reforms
cloaked in the guise of a budget reconciliation bill. Instead of moving
through regular order, the new majority took a shortcut. That shortcut
has cost us dearly. Budget reconciliation bills have strict limitations
designed to prevent them from being abused as a tool to enact policy,
rather than budgetary reform.
Judging by this year's bill, those rules are not strict enough.
Nonetheless, the budget reconciliation process chosen by the majority
prevented us from including fundamental reforms to the bulk of the
Higher Education Act.
A few weeks ago, committee Republicans introduced H.R. 3746, the
College Access and Opportunity Act of 2007.
[[Page H12195]]
This bill is an updated version of the reauthorization bill that passed
the House last Congress. H.R. 3746 would strengthen the Pell Grant
program, empower parents and students through ``sunshine'' and
transparency and college costs and accreditation, improve college
access programs and much more. Unfortunately, the House has yet to act
on comprehensive reforms.
The budget bill enacted earlier this year was a missed opportunity of
epic proportions. But worse than that, it was a classic example of how
a secretive rushed legislative process can produce harmful unintended
consequences.
In rushing to the floor with the reconciliation bill, Democrats made
mistakes. Several provisions included in the reconciliation bill need
to be fixed so that everyone is treated fairly under the law and the
law can be implemented as Congress intended. Additionally, the
Department of Education has already reached out to Congress to discuss
one of the new grant programs, which they see as near to impossible to
implement as written.
Had Congress had time to contemplate the impact of the provisions in
the new programs, we may have been able to avoid all the confusion that
now must be corrected. Today, in addition to extending these programs,
we are being forced to fix mistakes made by the flawed budget
reconciliation bill. Some of these mistakes can be corrected because
the Department of Education has yet to act on them, despite the October
1 implementation date. Other legislative errors have already been
implemented by the Department of Education, rendering a correction
costly, if not impossible.
Already our hands are tied, and we are unable to fairly and fully
correct the problems created through reconciliation. Rather than repeat
this rushed process again, I hope that we will move forward with the
Higher Education Act reauthorization in a bipartisan and thoughtful
manner.
I look forward to working with Chairmen Miller and Hinojosa and
Ranking Member Keller, and all of my colleagues on the Education and
Labor Committee, in completing our work in the coming months.
In the meantime, however, I urge my colleagues to join me in
supporting this extension.
Mr. Speaker, I yield back the balance of my time.
Mr. YARMUTH. Mr. Speaker, I will close by once again strongly
encouraging my colleagues to support this important legislation,
thanking the distinguished ranking member of the Education and Labor
Committee.
Mr. Speaker I yield back the balance of my time.
The SPEAKER pro tempore. The question is on the motion offered by the
gentleman from Kentucky (Mr. Yarmuth) that the House suspend the rules
and pass the Senate bill, S. 2258.
The question was taken; and (two-thirds being in the affirmative) the
rules were suspended and the Senate bill was passed.
A motion to reconsider was laid on the table.
____________________