For-Profit College Conversion Accountability Act
- Last Action
- 4/20/2021
Actions
- 2021-04-20Referred to the House Committee on Education and Labor.
- 2021-04-20Introduced in House
- 2021-04-20Introduced in House
CRS Summary
As of 2021-04-20 (00)
For-Profit College Conversion Accountability Act
This bill establishes certain criteria that an institution of higher education (IHE) must meet to be eligible for conversion from a for-profit IHE to a nonprofit IHE.
An IHE seeking conversion must submit an application to the Department of Education (ED). The application must demonstrate, among other requirements, that the IHE is operated by one or more nonprofit corporations or associations. Before approving the conversion, ED must publish the application in the Federal Register for notice and comment. Upon approval, the IHE must be regulated as a for-profit IHE for a five-year transition period.
ED must also establish an office to carry out the requirements of this bill.
Cosponsors (2)
- Sara Jacobs (D-CA)
- Kathy Manning (D-NC)
Subjects
- Department of Education
- Executive agency funding and structure
- Government information and archives
- Higher education
- Tax-exempt organizations
Sourced from Congress.gov (public domain).
This is legal information, not legal advice. Laws vary by jurisdiction and change frequently. Always verify current law with official sources and consult a licensed attorney in your jurisdiction for advice on your specific situation.