Amendment creates a Regulatory Reform Task Force to make recommendations for the reduction of unnecessary higher education regulations.

1. Adds SECTION 3. HIGHER EDUCATION REGULATORY REFORM TASK FORCE at the end of the bill

   Adds a section

   Inserted: SECTION 3. HIGHER EDUCATION REGULATORY REFORM TASK FORCE.

   Inserted: (a) Task Force Established.--Not later than 2 months after the date of enactment of this Act, the Secretary of Education shall establish the Higher Education Regulatory Reform Task Force.

   Inserted: (b) Membership.--The Higher Education Regulatory Reform Task Force shall include--

   Inserted: (1) the Secretary of Education or the Secretary's designee;

   Inserted: (2) a representative of the Advisory Committee on Student Financial Assistance established under section 491 of the Higher Education Act of 1965 (20 U.S.C. 1098); and

   Inserted: (3) representatives from the higher education community, including--

   Inserted: (A) institutions of higher education, with equal representation of public and private nonprofit institutions, and two-year and four-year institutions, and with not less than 25 percent of such representative institutions carrying out distance education programs; and

   Inserted: (B) nonprofit organizations representing institutions of higher education.

   Inserted: (c) Activities.--

   Inserted: (1) Report required.--Not later than 6 months after the date of enactment of this Act, the Secretary of Education shall submit to Congress and make available on a publicly available website a report (in this section referred to as the "Higher Education Regulatory Reform Report") prepared by the Higher Education Regulatory Reform Task Force on Department of Education regulatory requirements for institutions of higher education described in paragraph (2).

   Inserted: (2) Contents of report.--The Higher Education Regulatory Reform Report shall contain the following with respect to Department of Education regulatory requirements for institutions of higher education:

   Inserted: (A) A list of rules that are determined to be outmoded, duplicative, ineffective, or excessively burdensome.

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   Inserted: (B) For each rule listed in accordance with subparagraph (A) and that is in effect at the time of the review under subparagraph (A), an analysis of whether the costs outweigh the benefits for such rule.

   Inserted: (C) Recommendations to consolidate, modify, simplify, or repeal such rules to make such rules more effective or less burdensome.

   Inserted: (D) A description of the justification for and impact of the recommendations described in subparagraph (C), as appropriate and available, including supporting data for such justifications and the financial impact of such recommendations on institutions of higher education of varying sizes and types.

   Inserted: (E) Recommendations on the establishment of a permanent entity to review new Department of Education regulatory requirements affecting institutions of higher education.

   Inserted: (3) Notice and comment.--At least 30 days before submission of the Higher Education Regulatory Reform Report required under paragraph (1), the Secretary of Education shall publish the report in the Federal Register for public notice and comment. The Higher Education Regulatory Reform Task Force may modify the report in response to any comments received before submission of the report to Congress.

   Inserted: (d) Definition of Institution of Higher Education.--For the purposes of this section, the term "institution of higher education" has the meaning given such term in section 102 of the Higher Education Act of 1965 (20 U.S.C. 1002), except that such term does not include institutions described in subsection (a)(1)(C) of such section 102.

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   Add at the end the following new section:

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As printed