Sec. 404. Funding Federal Pell Grants through mandatory funding
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Section 401 ( 20 U.S.C. 1070a ) is amended— in subsection (a)(1), by striking through fiscal year 2017 ; in subsection (b)— by striking paragraphs (1), (6), and (7); by redesignating paragraph
(8)as paragraph (7); by striking subparagraph
(A)of paragraph (2); by redesignating subparagraph
(B)of paragraph
(2)as paragraph (2); by inserting before paragraph
(2)(as redesignated by subparagraph (D)) the following: The amount of the Federal Pell Grant for a student eligible under this subpart shall be— the maximum Federal Pell Grant described in paragraph (6); less the amount equal to the amount determined to be the expected family contribution with respect to such student for such year. ; in paragraph (4), by striking maximum amount of a Federal Pell Grant award determined under paragraph (2)(A) and inserting maximum Federal Pell Grant described in paragraph
(6); in paragraph (5), by striking maximum amount of a Federal Pell Grant award determined under paragraph (2)(A) and inserting maximum amount of a Federal Pell Grant award described in paragraph
(6); by inserting after paragraph
(5)the following: For award year 2018–2019, the maximum Federal Pell Grant shall be $6,420. For award year 2019–2020 and each subsequent award year, the maximum Federal Pell Grant shall be equal to the total maximum Federal Pell Grant for the preceding award year under this paragraph— increased by the annual adjustment percentage for the award year for which the amount under this subparagraph is being determined; and rounded to the nearest $5. In this paragraph, the term annual adjustment percentage , as applied to an award year, is equal to the estimated percentage increase in the Consumer Price Index (as determined by the Secretary, using the definition in section 478(f)) for the most recent calendar year ending prior to the beginning of that award year. ; and in paragraph (7), as redesignated by subparagraph (B), by striking may exceed and all that follows through the period and inserting may exceed the maximum Federal Pell Grant available for an award year. ; in subsection (f)— in paragraph (1), by striking the matter preceding subparagraph
(A)and inserting the following: After receiving an application for a Federal Pell Grant under this subpart, the Secretary (including any contractor of the Secretary processing applications for Federal Pell Grants under this subpart) shall, in a timely manner, furnish to the student financial aid administrator at each institution of higher education that a student awarded a Federal Pell Grant under this subpart is attending, the expected family contribution for each such student. Each such student financial administrator shall— ; and in paragraph (3)— by striking after academic year 1986–1987 ; and in paragraph (3), by striking the Committee on Appropriations of the Senate, the Committee on Appropriations of the House of Representatives, and ; by striking subsections
(g)and (h); by redesignating subsections
(i)and
(j)as subsections
(g)and (h), respectively; and by adding at the end the following: There are authorized to be appropriated, and there are appropriated, out of any money in the Treasury not otherwise appropriated, such sums as may be necessary for fiscal year 2017 and each subsequent fiscal year to provide the maximum Federal Pell Grant for which a student shall be eligible under this section during an award year. . Section 406 of H. Con. Res. 95 (109th Congress) is amended— by striking subsection (b); and by striking
(a)and inserting the following: In general .—Upon Upon .
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Sec. 404
Funding Federal Pell Grants through mandatory funding
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