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

Titles (2)

Short Titles

Short Titles - House of Representatives

Short Title(s) as Introduced

Use Your Endowment Act

Official Titles

Official Titles - House of Representatives

Official Title as Introduced

To amend the higher education emergency relief fund under the CARES Act to restrict eligibility to institutions of higher education that owned endowment assets whose average monthly value was equal to or less than $10,000,000,000 in 2019, unless the institution expends additional institutional funds on higher education emergency relief, and for other purposes.

Actions Overview (1)

Date Actions Overview
05/01/2020Introduced in House

All Actions (2)

Date All Actions
05/01/2020Referred to the House Committee on Education and Labor.
Action By: House of Representatives
05/01/2020Introduced in House
Action By: House of Representatives

Cosponsors (3)

* = Original cosponsor
CosponsorDate Cosponsored
Rep. Jordan, Jim [R-OH-4]* 05/01/2020
Rep. Gallagher, Mike [R-WI-8]* 05/01/2020
Rep. Mooney, Alexander X. [R-WV-2] 07/21/2020

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 Related Documents
House Education and Labor05/01/2020 Referred to

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Subjects (7)

Latest Summary (1)

There is one summary for H.R.6651. View summaries

Shown Here:
Introduced in House (05/01/2020)

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).