Pipeline · Bill → Law
Step 1
Introduced
Feb 7, 2025
Step 2
Referred
Feb 7, 2025
Education and Workforce
Step 3
Committee
Step 4
House floor
Step 5
Senate
Step 6
Resolve Changes
Step 7
Signed
SummaryCRS Summary
This bill restores an exemption for certain family farms and small businesses on the Free Application for Federal Student Aid (FAFSA) form. The bill applies to the net worth of (1) a family farm on which the family resides, or (2) a small business with not more than 100 full-time or full-time equivalent employees that is owned and controlled by the family. Prior to recent changes made to the FAFSA, the net worth of these family farms and small businesses were excluded as assets when calculating a student's financial need to determine federal student aid eligibility. Beginning with the 2024-2025 academic year, the net worth of these farms and businesses are treated as an asset and therefore...
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AmendmentAI
Timeline · 2 actions
Feb 7, 2025
Introduced in House
Feb 7, 2025
Referred to the House Committee on Education and Workforce.