[Congressional Bills 117th Congress]
[From the U.S. Government Publishing Office]
[H.R. 7880 Introduced in House (IH)]
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117th CONGRESS
2d Session
H. R. 7880
To increase the total maximum Federal Pell Grant, and for other
purposes.
_______________________________________________________________________
IN THE HOUSE OF REPRESENTATIVES
May 27, 2022
Mr. Carbajal introduced the following bill; which was referred to the
Committee on Ways and Means, and in addition to the Committee on
Education and Labor, 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
_______________________________________________________________________
A BILL
To increase the total maximum Federal Pell Grant, and for other
purposes.
Be it enacted by the Senate and House of Representatives of the
United States of America in Congress assembled,
SECTION 1. SHORT TITLE.
This Act may be cited as the ``Degrees Not Debt Act of 2022''.
SEC. 2. INCREASE IN THE MAXIMUM AMOUNT OF A FEDERAL PELL GRANT.
(a) Award Year 2022-2023.--Section 401(b)(7)(C) of the Higher
Education Act of 1965 (20 U.S.C. 1070a(b)(7)(C)) is amended--
(1) in clause (i)(I), by striking ``clause (iv)(II)'' and
inserting ``clause (v)(II)'';
(2) in clause (ii)(I), by striking ``clause (iv)(II)'' and
inserting ``clause (v)(II)'';
(3) by amending clause (iii) to read as follows:
``(iii) Award years 2018-2019 through 2021-
2022.--For award years 2018-2019 through 2021-
2022, the amount determined under this
subparagraph for purposes of subparagraph
(B)(iii) shall be equal to the amount
determined under clause (ii) for award year
2017-2018.'';
(4) by redesignating clause (iv) as clause (v); and
(5) by inserting after clause (iii) (as amended by this
subsection) the following:
``(iv) Award year 2022-2023.--For award
year 2022-2023, the amount determined under
this subparagraph for purposes of subparagraph
(B)(iii) shall be equal to--
``(I) $13,800; reduced by
``(II) the maximum Federal Pell
Grant for which a student was eligible
for the preceding award year, as
specified in the last enacted
appropriation Act applicable to that
year; and
``(III) rounded to the nearest
$5.''.
(b) Award Year 2023-2024 and Subsequent Award Years.--
(1) Amendment to award amount.--Section 401(b)(5)(A)(i) of
the Higher Education Act of 1965 (20 U.S.C. 1070a(b)(5)(A)(i)),
as amended by section 703 of the FAFSA Simplification Act
(title VII of division FF of Public Law 116-260), is amended to
read as follows:
``(i) $13,800 reduced by the amount
specified as the maximum Federal Pell Grant in
the last enacted appropriation Act applicable
to that award year, except that for each award
year subsequent to award year 2023-2024, this
clause shall be applied by substituting `the
amount that is equal to $13,800, increased by a
percentage equal to the annual adjustment
percentage for the award year for which the
amount under this subparagraph is being
determined, then' for `$13,800'; and''.
(2) Definition.--Section 401(a)(2) of the Higher Education
Act of 1965 (20 U.S.C. 1070a(a)(2)), as amended by section 703
of the FAFSA Simplification Act (title VII of division FF of
Public Law 116-260), is amended--
(A) in subparagraph (E), by striking ``and'' after
the semicolon;
(B) in subparagraph (F), by striking the period and
inserting ``; and''; and
(C) by adding at the end the following:
``(G) the term `annual adjustment percentage' as
applied to an award year, is equal to the estimated
percentage change in the Consumer Price Index (as
determined by the Secretary, using the definition in
section 478(f)) for the most recent calendar year
ending prior to the beginning of that award year.''.
(3) Effective date.--The amendments made by this subsection
shall take effect as if included in section 703 of the FAFSA
Simplification Act (title VII of division FF of Public Law 116-
260) and in accordance with section 701(b) of such Act.
SEC. 3. REPEAL OF INCREASED ALTERNATIVE MINIMUM TAX EXEMPTION AMOUNT
FOR INDIVIDUALS.
(a) In General.--Section 55(d) of the Internal Revenue Code of 1986
is amended by striking paragraph (4).
(b) Effective Date.--The amendment made by this section shall apply
to taxable years beginning after December 31, 2021.
SEC. 4. REPEAL OF INCREASED ESTATE AND GIFT TAX EXEMPTION.
(a) In General.--Section 2010(c)(3)(C) of the Internal Revenue Code
of 1986 is amended by striking ``January 1, 2026'' and inserting ``the
date of the enactment of the Degrees Not Debt Act of 2022''.
(b) Effective Date.--The amendment made by this section shall apply
to estates of decedents dying and gifts made after the date of the
enactment of this Act.
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