90/10 Rule Repeal Act

Section 1–Title: This bill shall be known as the 90/10 Rule Repeal Act.

Section 2–Repeal of the 90/10 Rule: Section 487 of the Higher Education Act of 1965 (20 U.S.C. 1094) is amended—

• (1) in subsection (a), by striking paragraph (24); and
• (2) by striking subsection (d).

(b) Existing Regulations.—Effective on the date of enactment of this Act, any regulation implementing or enforcing the provisions repealed by subsection (a), including section 668.28 of title 34, Code of Federal Regulations, shall have no force or effect.

(c) Prohibition on Future Regulations.—The Secretary of Education may not issue, implement, or enforce any regulation requiring a proprietary institution of higher education to derive a minimum percentage of its revenue from sources other than Federal funds as a condition of participation in a program authorized under title IV of the Higher Education Act of 1965.