Endowment Transparency Act
The Endowment Transparency Act (HR 4405) requires colleges receiving federal student aid (Title IV programs) to publicly report detailed information about their investment practices. Specifically, institutions must disclose, within one year of the law's enactment, data on assets managed by investment advisers - including whether those advisers are minority- or women-owned, broken down by gender and race, and the percentage of bond issuances underwritten by such firms. The bill mandates standardized reporting via the College Navigator website and directs the Minority Business Development Agency to analyze the data, issue biennial reports with recommendations to increase minority/women-owned firm participation, and host conferences to share best practices. This law directly affects over 4,000 Title IV colleges and aims to increase transparency in higher education investment decisions.
Bill status
in committee
1 of 4 stages cleared
Introduction
Jun 2023
Committee Review
Floor Vote
President
Introduced Jun 30, 2023
Last action Jun 30, 2023
Floor votes
How they voted
No floor votes recorded yet.
Full legislative history
Actions timeline
Total actions
2
Key actions
0
Committee
1
Jun 30, 2023
Committee
Referred to the Committee on Financial Services, and in addition to the Committee on Education and the Workforce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
lower
Jun 30, 2023
Introduced
Introduced in House
lower
1 primary · 1 co-sponsor
Sponsors
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