Use Your Endowment Act
Latest action · May 4, 2020 Read twice and referred to the Committee on Health, Education, Labor, and Pensions.
Progress
Where this bill reached, and when. A stage with no date was not reached; one that failed a vote and later carried shows the date it carried.
- IntroducedMay 4, 2020
- Passed SenateNot reached
- Passed HouseNot reached
- To the PresidentNot reached
- Became lawNot reached
Summary
Use Your Endowment Act
This bill 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).
Cosponsors 5
Members who signed on, in the order they did. Signatures ran from May 4, 2020 to May 14, 2020, with 4 there on the day it was introduced.
| Seat | Cosponsor | Signed on | |
|---|---|---|---|
| R-FL | Marco Rubio | Original | May 4, 2020 |
| R-TN | Marsha Blackburn | Original | May 4, 2020 |
| R-AZ | Martha McSally | Original | May 4, 2020 |
| R-IN | Mike Braun | Original | May 4, 2020 |
| R-IA | Joni Ernst | May 14, 2020 |
Actions 2
Everything that happened, newest first.
- May 4, 2020Introduced in Senate
- May 4, 2020Read twice and referred to the Committee on Health, Education, Labor, and Pensions.
Subjects
Assigned by the Library of Congress. Policy area: Education.
Text 1
Each version as it was printed, newest first.
- May 4, 2020Introduced in Senate
Everything here is as published by Congress: the summary is the Congressional Research Service's, the action wording is the clerks', and the subjects are the Library of Congress's. How far it got is read from the actions themselves, taking the most recent one of each kind, so a bill that failed a vote and later passed is shown as having passed. Records come from this bill on Congress.gov and govinfo.gov.