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House Bill 1981
117th Congress(2021-2022)
To require the Comptroller General to submit a report on the transfer of student debt functions from the Department of Education to the Department of the Treasury, including costs of such a transfer and the mitigation of the duplication of duties by Federal agencies, and for other purposes.
Introduced
Introduced
Introduced in House on Mar 17, 2021
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Introduced in House 
Mar 17, 2021
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Introduced in House(Mar 17, 2021)
Mar 17, 2021
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Multiple bills can contain the same text. This could be an identical bill in the opposite chamber or a smaller bill with a section embedded in a larger bill.
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H. R. 1981 (Introduced-in-House)


117th CONGRESS
1st Session
H. R. 1981


To require the Comptroller General to submit a report on the transfer of student debt functions from the Department of Education to the Department of the Treasury, including costs of such a transfer and the mitigation of the duplication of duties by Federal agencies, and for other purposes.

IN THE HOUSE OF REPRESENTATIVES

March 17, 2021

Mr. Murphy of North Carolina introduced the following bill; which was referred to the Committee on Education and Labor

A BILL

To require the Comptroller General to submit a report on the transfer of student debt functions from the Department of Education to the Department of the Treasury, including costs of such a transfer and the mitigation of the duplication of duties by Federal agencies, and for other purposes.

Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,

SECTION 1. Report by GAO on transfer of functions of the Office of Federal Student Aid to the Department of Treasury.

(a) Study.—The Comptroller General of the United States shall conduct a study on the impact of transferring the functions, in whole or in part, of the Office of Federal Student Aid from the Department of Education to the Department of the Treasury, which shall include—

(1) the potential impact of such transfer on the Federal Government, including—

(A) any change in cost of administering the program; and

(B) the duplication of duties by Federal agencies;

(2) an analysis of how the responsibilities and operations of the Office of Federal Student Aid of the Department of Education overlaps with relevant responsibilities and operations at the Department of Treasury;

(3) an analysis of whether the employees of the Department of Treasury possess the necessary expertise and experience to manage and oversee the functions of the Office of Federal Student Aid of the Department of Education; and

(4) the potential impact of such transfer on administrative costs and staff necessary for carrying out such functions.

(b) Consultation.—In conducting the study under subsection (a), the Comptroller General of the United States shall consult with stakeholders, including institutions of higher education, financial aid administrators, and existing entities that contract with the Office of Federal Student Aid of the Department of Education, that may be impacted by the transfer studied under such subsection.

(c) Report.—Not later than 2 years after the date of the enactment of this Act, the Comptroller General of the United States shall complete the study under subsection (a) and submit a report to the House Committee on Education and the Workforce and the Senate Committee on Health, Education, Labor, and Pensions that includes the results of such study.