HR2271Referred to Committee

Change of Ownership and Conversion Improvement Act

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Introduced
In Committee
3
Passed One Chamber
4
Passed Both
5
Signed into Law
119th
Congress
2025-03-21
Introduced
0
Cosponsors
HR
ⓘ
Type

Sponsor

Burgess Owens
Burgess Owens
Republican · UT · Representative
Votes with party: 97.7% (658 recorded votes)

Full profile: /officials/O000086

Source: Congress.gov · FEC

Cosponsors (0)

Members who have signed on to support this bill since introduction. Source: Congress.gov.

No cosponsors on record. Bills can pass without cosponsors — this often means the sponsor introduced the bill alone, either because it's a messaging bill, a chairman's mark, or simply early in the legislative cycle.

Latest Action

The most recent step in the bill's legislative path. Committee Activity below shows referrals and reports; the full action-by-action history including floor proceedings lives at Congress.gov →

Referred to the House Committee on Education and Workforce.

2025-03-21

Source: Congress.gov

Committee Activity

Currently in

Plain-English Summary

Change of Ownership and Conversion Improvement Act This bill revises the application and review process for institutions of higher education (IHEs) to change ownership or for a proprietary (i.e., for-profit) IHE to convert to public or other nonprofit status. Specifically, the bill (1) establishes a pretransaction review application, and (2) requires an IHE to pay an administrative fee to the Department of Education (ED) for change in ownership or conversion transactions or pretransaction reviews. In the case of a for-profit IHE seeking conversion or a pretransaction review for conversion, ED must remit 50% of the administrative fee to the Internal Revenue Service (IRS) to determine whether the IHE is exempt from tax and is otherwise in compliance with the applicable requirements of the Internal Revenue Code of 1986 (IRC). The bill establishes time frames for ED to approve or deny applications. The bill also includes various reporting requirements. An IHE that has been approved for conversion by ED must be subject to a five-year monitoring period and must also pay an annual fee for this monitoring. ED must remit 50% of the annual fee to the IRS for monitoring the IHE's compliance with the IRC. The Government Accountability Office must report on the implementation of this bill's provisions.

Plain-English rewrite of the Congressional Research Service summary published on Congress.gov. Cached and reviewed.

Subjects

Education
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