US Congress Senate Bill 3589 (Prior Session Legislation)

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Spectrum: Partisan Bill (Republican 6-0)
Status: Introduced on May 4 2020 - 25% progression, died in committee
Action: 2020-05-04 - Read twice and referred to the Committee on Health, Education, Labor, and Pensions.
Pending: Senate Health, Education, Labor, And Pensions Committee
Text: Latest bill text (Introduced) [PDF]

Deems certain institutions of higher education (IHEs) ineligible to receive certain emergency relief funds to address the coronavirus (i.e., the virus that causes COVID-19). Specifically, an IHE with an endowment greater than $10 billion in 2019 is generally ineligible to receive such funds and must return any funds it received to the Department of Education (ED). However, such an IHE may receive and keep these funds if it provides documentation to ED that it expended 1,000% of the amount of the funds on emergency relief (e.g., financial-aid grants to students).

Use Your Endowment Act

Sen. Josh Hawley [R-MO]	Sen. Marsha Blackburn [R-TN]	Sen. Martha McSally [R-AZ]	Sen. Marco Rubio [R-FL]
Sen. Mike Braun [R-IN]	Sen. Joni Ernst [R-IA]

Date	Chamber	Action
2020-05-04	Senate	Read twice and referred to the Committee on Health, Education, Labor, and Pensions.

HB6651 (Same As) 2020-05-01 - Referred to the House Committee on Education and Labor.

Type	Source
Summary	https://www.congress.gov/bill/116th-congress/senate-bill/3589/all-info
Text	https://www.congress.gov/116/bills/s3589/BILLS-116s3589is.pdf