United States · Bill · S
S. 3589 (116th)
Use Your Endowment Act
Introduced
4 May 2020
Last action
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Status
Read twice and referred to the Committee on Health, Education, Labor, and Pensions.
Sponsors
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Subjects
Discovery layer
Source updated
21 April 2025
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).
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Votes
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Versions
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Documents
3 official files
Introduced in Senate (text)
Introduced in Senate · EN · 4 May 2020
Introduced in Senate (PDF)
Introduced in Senate · EN · 4 May 2020
Introduced in Senate
summary · EN · 4 May 2020
Sponsors
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Related records
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Sources
PoliticalRepo is an index and interpretation layer, not the authoritative legal source.
- Official source: https://www.congress.gov/bill/116th-congress/senate-bill/3589
- Open data entity: https://api.congress.gov/v3/bill/116/s/3589