To amend the Higher Education Act of 1965 to prevent double-counting of income in the conduct of needs analysis for student assistance under that Act.

Amends the Higher Education Act of 1965 to prevent double-counting of income in the conduct of needs analysis for student assistance programs under such Act.

 
43435 HILL 6-16-88
HR 4830 IH
101st CONGRESS
1st Session
 H. R. 375
To amend the Higher Education Act of 1965 to prevent double-counting of
income in the conduct of needs analysis for student assistance under that Act.
IN THE HOUSE OF REPRESENTATIVES
January 3, 1989
Mr. SOLOMON (for himself and Mr. HORTON) introduced the following bill;
which was referred to the Committee on Education and Labor
A BILL
To amend the Higher Education Act of 1965 to prevent double-counting of
income in the conduct of needs analysis for student assistance under that Act.
  Be it enacted by the Senate and House of Representatives of the United
  States of America in Congress assembled,
SECTION. 1. PREVENTION OF DOUBLE-COUNTING OF INCOME IN ASSET COMPUTATIONS.
  (a) PELL GRANT PROGRAM- Section 411F(2) of the Higher Education Act of
  1965 (20 U.S.C. 1070a-6(2)) is amended by adding at the end thereof the
  following: `No property (or interest therein) shall be treated as an asset
  of an individual or family if that individual or family has obtained that
  property or interest with funds that are treated, for purposes of this
  subpart, as part of that individual's or family's effective family income.'.
  (b) OTHER STUDENT ASSISTANCE PROGRAMS- Section 480(g) of such Act (20
  U.S.C. 1087vv(g)) is amended by adding at the end thereof the following:
  `No property (or interest therein) shall be treated as part of the net worth
  of an individual or family if that individual or family has obtained that
  property or interest with funds that are treated, for purposes of this part,
  as part of that individual's or family's available income.'.
SEC. 2. EFFECTIVE DATE.
  The amendments made by this Act shall be effective as if enacted as part
  of the Higher Education Amendments of 1986.