S.Amdt. 405

SA 405. Mr. SCOTT of Florida submitted an amendment intended to be
proposed by him to the concurrent resolution S. Con. Res. 5, setting
forth the congressional budget for the United States Government for
fiscal year 2021 and setting forth the appropriate budgetary levels for
fiscal years 2022 through 2030; which was ordered to lie on the table;
as follows:

At the end of title III, add the following:

SEC. 3___. DEFICIT-NEUTRAL RESERVE FUND RELATING TO ENSURING
THAT INSTITUTIONS OF HIGHER EDUCATION SHALL BE
HELD RESPONSIBLE FOR A PERCENTAGE OF THE
STUDENT LOAN DEFAULTS THAT OCCUR AFTER THE DATE
OF ADOPTION OF THE CONCURRENT RESOLUTION THAT
CAN REASONABLY BE TRACED TO SUCH INSTITUTIONS.

The Chairman of the Committee on the Budget of the Senate
may revise the allocations of a committee or committees,
aggregates, and other appropriate levels in this resolution,
and make adjustments to the pay-as-you-go ledger, for one or
more bills, joint resolutions, amendments, amendments between
the Houses, motions, or conference reports relating to
ensuring that institutions of higher education shall be held
responsible for a percentage of the student loan defaults
that occur after the adoption of this Concurrent Resolution
that can reasonably be traced to such institutions by the
amounts provided in such legislation for those purposes,
provided that such legislation would not increase the deficit
over either the period of the total of fiscal years 2021
through 2025 or the period of the total of fiscal years 2021
through 2030.
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