PROTECT Act

This bill would amend the Higher Education Act of 1965 so that colleges taking part in federal student aid programs could not enter into or keep agreements that give private equity funds, hedge funds, other private funds, or foreign government investment funds any ownership, revenue share, or control over college athletics programs, facilities, or related rights. The rule would also cover agreements made by athletic conferences, media-rights groups, and collectives or other entities controlled by the college. Some deals would be exempt, such as fee-for-service contracts, gifts, certain tax-exempt bond financings, and sponsorships without revenue sharing or control. Colleges would have to certify each year that they comply, publicly disclose agreements that rely on an exception, and fix or end existing agreements within 24 months.

Full text and official record on Congress.gov

Sponsors

• Michael Baumgartner Republican sponsor
• 0 cosponsors