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S. 469IntroducedSenate · nowHousePresidentLawIn committee
Sec. 2 · S. 469

Exempting family farms and small businesses from assets under the Higher Education Act of 1965

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(a) In general Section 480(f)(2) of the Higher Education Act of 1965 (20 U.S.C. 1087vv(f)(2)) is amended— (1) by striking net value of the and inserting the following: net value of— (A) the; (2) by striking the period at the end and inserting a semicolon; and (3) by adding at the end the following: (B) a family farm on which the family resides; or (C) a small business with not more than 100 full-time or full-time equivalent employees (or any part of such a small business) that is owned and controlled by the family.. (b) Applicability The amendments made by subsection (a) shall apply to need analysis conducted under part F of title IV of the Higher Education Act of 1965 (20 U.S.C. 1087kk et seq.) for award years beginning on or after the date of the enactment of this Act.

Sec. 2: Exempting family farms and small businesses from assets under the Higher Education Act of 1965 · Public Law Tracker