H.R. 7031 · 117th Congress
Change of Ownership and Conversion Improvement Act
- Stage
- In committee
- Sponsor
- Fred Keller
- Introduced
- 2022-03-09
- Latest action
- 2022-03-09 · Introduced in House
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, including by establishing a pretransaction review application and requiring an IHE to pay an administrative fee for such transactions or pretransaction reviews. The Government Accountability Office must report on the implementation of this bill's provisions.