REDUCE Act of 2018

Summary

Reducing Excessive Debt and Unfair Costs of Education Act of 2018 or the REDUCE Act of 2018 This bill imposes additional taxes on, and limits tax deductions for contributions to, certain institutions of higher education that (1) do not use a specified portion of net investment income for grants to working-family students, or (2) accept certain gifts that are restricted for uses other than scholarships. A "working-family student" is an individual who (1) is enrolled (part-time or full-time) as an undergraduate student, and (2) whose household income for the year does not exceed 600% of the poverty line for a family of the size involved. The bill modifies requirements for the tax-exempt status of institutions of higher education by adding requirements regarding (1) plans for limiting tuition increases, and (2) serving students who are eligible for Pell Grants or have household incomes that do not exceed 600% of the poverty line. The bill also requires institutions of higher education to make certain disclosures regarding net tuition, the management of endowments or investments, institutional aid, and funds provided by parents or grandparents of students. The revenues from the taxes imposed by this bill must be used to increase funding for the Pell Grant program.

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Timeline

1. 22 May 2018

   Introduced

   Referred to the Committee on Ways and Means, and in addition to the Committee on Education and the Workforce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.

   Source: IntroReferral

2. 22 May 2018

   Introduced

   Introduced in House

   Source: IntroReferral

3. 22 May 2018

   Introduced

   Introduced in House

   Source: IntroReferral

Votes

No vote records are attached yet.

Versions

• Introduced in House · 22 May 2018 · Official file

Documents

3 official files

• Introduced in House (text)

  Introduced in House · EN · 22 May 2018

  ViewDownloadOpen at official source

• Introduced in House (PDF)

  Introduced in House · EN · 22 May 2018

  ViewDownloadOpen at official source

• Introduced in House

  summary · EN · 22 May 2018

  Open at official source

Sponsors

• Tom Reed · R · Sponsor
• · hsed00 · Standing
• · hswm00 · Standing

Related records

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