Text: S.2796 — 111th Congress (2009-2010)All Information (Except Text)

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Introduced in Senate (11/18/2009)


111th CONGRESS
1st Session
S. 2796


To extend the authority of the Secretary of Education to purchase guaranteed student loans for an additional year, and for other purposes.


IN THE SENATE OF THE UNITED STATES

November 18, 2009

Mr. Enzi (for himself, Mr. Nelson of Nebraska, Mr. Alexander, Mr. Burr, Mr. Coburn, Mr. Gregg, Mr. Hatch, Mr. Isakson, Mr. McCain, Ms. Murkowski, and Mr. Roberts) introduced the following bill; which was read twice and referred to the Committee on Health, Education, Labor, and Pensions


A BILL

To extend the authority of the Secretary of Education to purchase guaranteed student loans for an additional year, 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. Extension of student loan purchase authority.

Section 459A of the Higher Education Act of 1965 (20 U.S.C. 1087i–1) is amended—

(1) in subsections (a)(1), (a)(3)(A), and (f), by striking “July 1, 2010” and inserting “July 1, 2011”; and

(2) in subsection (e)—

(A) in the matter preceding clause (i) of paragraph (1)(A) and the matter preceding subparagraph (A) of paragraph (2), by striking “September 30, 2010” and inserting “September 30, 2011”;

(B) in paragraph (2), by striking “February 15, 2011” and inserting “February 15, 2012”; and

(C) in paragraph (3), by striking “2010, and 2011” and inserting “2010, 2011, and 2012”.

SEC. 2. Extension of authority to designate lenders for lender-of-last-resort program.

Section 428(j) of the Higher Education Act of 1965 (20 U.S.C. 1078(j)) is amended—

(1) in paragraph (6), by striking “June 30, 2010” and inserting “June 30, 2011”;

(2) in paragraph (7), by striking “June 30, 2010” and inserting “June 30, 2011”; and

(3) in paragraph (9)(A)—

(A) in the matter preceding subclause (I) of clause (ii), by striking “June 30, 2011” and inserting “June 30, 2012”;

(B) in subclause (III) of clause (ii), by striking “June 30, 2010” and inserting “June 30, 2011”; and

(C) in the matter preceding subclause (I) of clause (iii), by striking “July 1, 2011” and inserting “July 1, 2012”.