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Titles Actions Overview All Actions Cosponsors Committees Related Bills Subjects Latest Summary All Summaries

Titles (2)

Short Titles

Short Titles - Senate

Short Titles as Introduced

Bank on Students Emergency Loan Refinancing Act

Official Titles

Official Titles - Senate

Official Titles as Introduced

A bill to amend the Higher Education Act of 1965 to provide for the refinancing of certain Federal student loans, and for other purposes.

Actions Overview (1)

05/17/2017Introduced in Senate

All Actions (1)

05/17/2017Read twice and referred to the Committee on Finance. (Sponsor introductory remarks on measure: CR S3015)
Action By: Senate

Cosponsors (39)

* = Original cosponsor
CosponsorDate Cosponsored
Sen. Schumer, Charles E. [D-NY]* 05/17/2017
Sen. Murray, Patty [D-WA]* 05/17/2017
Sen. Baldwin, Tammy [D-WI]* 05/17/2017
Sen. Bennet, Michael F. [D-CO]* 05/17/2017
Sen. Blumenthal, Richard [D-CT]* 05/17/2017
Sen. Booker, Cory A. [D-NJ]* 05/17/2017
Sen. Brown, Sherrod [D-OH]* 05/17/2017
Sen. Cardin, Benjamin L. [D-MD]* 05/17/2017
Sen. Casey, Robert P., Jr. [D-PA]* 05/17/2017
Sen. Duckworth, Tammy [D-IL]* 05/17/2017
Sen. Durbin, Richard J. [D-IL]* 05/17/2017
Sen. Franken, Al [D-MN]* 05/17/2017
Sen. Gillibrand, Kirsten E. [D-NY]* 05/17/2017
Sen. Harris, Kamala D. [D-CA]* 05/17/2017
Sen. Hassan, Margaret Wood [D-NH]* 05/17/2017
Sen. Heinrich, Martin [D-NM]* 05/17/2017
Sen. Heitkamp, Heidi [D-ND]* 05/17/2017
Sen. Hirono, Mazie K. [D-HI]* 05/17/2017
Sen. Klobuchar, Amy [D-MN]* 05/17/2017
Sen. Leahy, Patrick J. [D-VT]* 05/17/2017
Sen. Manchin, Joe, III [D-WV]* 05/17/2017
Sen. Markey, Edward J. [D-MA]* 05/17/2017
Sen. Menendez, Robert [D-NJ]* 05/17/2017
Sen. Merkley, Jeff [D-OR]* 05/17/2017
Sen. Murphy, Christopher [D-CT]* 05/17/2017
Sen. Peters, Gary C. [D-MI]* 05/17/2017
Sen. Reed, Jack [D-RI]* 05/17/2017
Sen. Sanders, Bernard [I-VT]* 05/17/2017
Sen. Shaheen, Jeanne [D-NH]* 05/17/2017
Sen. Stabenow, Debbie [D-MI]* 05/17/2017
Sen. Udall, Tom [D-NM]* 05/17/2017
Sen. Van Hollen, Chris [D-MD]* 05/17/2017
Sen. Whitehouse, Sheldon [D-RI]* 05/17/2017
Sen. Wyden, Ron [D-OR]* 05/17/2017
Sen. Cortez Masto, Catherine [D-NV]* 05/17/2017
Sen. McCaskill, Claire [D-MO]* 05/17/2017
Sen. Cantwell, Maria [D-WA] 06/29/2017
Sen. Feinstein, Dianne [D-CA] 10/02/2017
Sen. Smith, Tina [D-MN] 01/23/2018

Committees (1)

Committees, subcommittees and links to reports associated with this bill are listed here, as well as the nature and date of committee activity and Congressional report number.

Committee / Subcommittee Date Activity Reports
Senate Finance05/17/2017 Referred to

A related bill may be a companion measure, an identical bill, a procedurally-related measure, or one with text similarities. Bill relationships are identified by the House, the Senate, or CRS, and refer only to same-congress measures.

Latest Summary (1)

There is one summary for S.1162. View summaries

Shown Here:
Introduced in Senate (05/17/2017)

Bank on Students Emergency Loan Refinancing Act

This bill amends title IV (Student Assistance) of the Higher Education Act of 1965 to establish a program that allows eligible students with loans under the Federal Direct Loan program (a Federal Direct Stafford Loan, a Federal Direct Unsubsidized Stafford Loan, a Federal Direct PLUS Loan, or a Federal Direct Consolidation Loan) to refinance their loans down to the lower rates offered to new federal borrowers in the 2016-2017 school year under certain circumstances.

In addition, the bill allows student borrowers to refinance their private loans into the Federal Direct Loan program.

This bill amends the Internal Revenue Code to require an individual taxpayer whose adjusted gross income exceeds $1 million to pay a minimum tax rate of 30% of the excess of the taxpayer's adjusted gross income over the taxpayer's modified charitable contribution deduction for the taxable year (tentative fair share tax).