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S. 3589: Use Your Endowment Act

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S. 3589: Use Your Endowment Act

116th Congress · introduced 2020-05-04 · Education · Latest: Read twice and referred to the Committee on Health, Education, Labor, and Pensions.

federal

Follow this bill, step by step

  1. Where it came from: introduced 2020-05-04 · official record
  2. Who proposed it: Sen. Hawley, Josh [R-MO] · what a sponsor is
  3. What happened next: no floor votes in our records yet. Why?
  4. Where it stands now: Read twice and referred to the Committee on Health, Education, Labor, and Pensions. Not final yet: this can still change. We check for updates every day.
  5. If it becomes law and spends money: follow the money to money laws, then agencies and contracts and grants.

What does this mean?

Official title

Use Your Endowment Act

Plain summary

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).

Congressional Research Service summary (Introduced in Senate), quoted unchanged (nonpartisan). Read the source.

What a vote does

A “Yea” vote

If it passes both chambers and is signed, it becomes law.

A “Nay” vote

If it is not passed, current law stays as it is.

PSI Sci description of the legislative step (not an opinion).

What does this mean? (plain words)

Official text

Use Your Endowment Act

Source: Congressional Research Service summary (Introduced in Senate)

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The strongest published arguments

Arguments for (supporters)

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Arguments against (opponents)

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Alternatives

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How did my representative vote? · This bill's floor votes

Officials and money

Sponsor: Sen. Hawley, Josh [R-MO] · 5 cosponsors

Cost estimate: No cost estimate published yet.

Cosponsors on this site

Marsha Blackburn (R-TN), Joni Ernst (R-IA)

Sponsor's campaign money: Sen. Hawley, Josh [R-MO] reported raising $1.9 million (2025–2026). Details. Shown for context only; it does not mean any donor supported this bill.

No linked floor roll calls in our collected records yet. This does not mean the bill has never had a vote. Check the official bill history.

Words on this page, explained (2)
Bill
A proposed law. It becomes law only if it passes the legislature and is signed by the president or governor (or a veto is overridden).
Endowment
A fund that is invested so its earnings pay for a purpose over time, while the main amount is kept.

Plain meanings written from linked sources. All words.

Sources

Record fed-us-cong116-s3589 · catalog fed-us-congress-bills-cong116 · updated 2026-11-15 by psicol fed-bills-cong116