H.R. 2271: Change of Ownership and Conversion Improvement Act

119th Congress · introduced 2025-03-21 · Education · Latest: Referred to the House Committee on Education and Workforce.

federal

What does this mean?

Official title

Change of Ownership and Conversion Improvement Act

Plain 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.

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

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What does this mean? (plain words)

Official text

Change of Ownership and Conversion Improvement Act

Source: Congressional Research Service summary (Introduced in House)

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Officials and money

Sponsor: Rep. Owens, Burgess [R-UT-4] · 0 cosponsors

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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).
Exemption: A rule that removes certain people, property or activities from a tax or requirement.

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Sources

Congressional Research Service summary (Introduced in House)
Congress.gov
Data: GovInfo BILLSTATUS bulk data (Library of Congress), BILLSTATUS-119hr2271.xml <https://www.govinfo.gov/bulkdata/BILLSTATUS/119/hr>

Record fed-us-cong119-hr2271 · catalog fed-us-congress-bills-cong119 · updated 2026-11-03 by psicol fed-bills