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116-hr-6651116th Congress

Use Your Endowment Act

Sponsored By: Representative Cline, Ben [R-VA-6]

Unknown

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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Bill Overview

No Economic Impacts Identified for this Bill

Sponsors & CoSponsors

Sponsor

Cline, Ben [R-VA-6]

VA • R

Cosponsors

  • Rep. Jordan, Jim [R-OH-4]

    OH • R

    Sponsored 5/1/2020

  • Rep. Gallagher, Mike [R-WI-8]

    WI • R

    Sponsored 5/1/2020

  • Rep. Mooney, Alexander X. [R-WV-2]

    WV • R

    Sponsored 7/21/2020

Roll Call Votes

No roll call votes available for this bill.

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