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Legislative Lunchcast: A Washington Update from NACUBO (September 2017)

Tuesday, September 19, 1:00 PM ET

Overview

To help business officers understand the political climate and explore potential budgetary, tax, and regulatory changes, NACUBO is offering this free, 30-minute overview of what’s happening in Washington. Get an update on federal actions that will impact your campus and recognize what to expect in 2017.
 
Liz Clark, director, Megan Schneider, assistant director of federal affairs, and Bryan Dickson, senior policy analyst, NACUBO, will discuss the wide-ranging implications for students and institutions, such as the following:
 
 Perkins Loans Student Aid
 Financial Responsibility
 Tax Issues Cybersecurity Month DACA Students
 Overtime
 Advocacy
1098-T  
F&A
Communicating the
Value of Higher Education

Register now and learn the important points you need to know about what’s at stake. Do you have federal affairs questions or specific topics you’d like to hear addressed in the webcast? Send them in advance to advocacy@nacubo.org by September 15.
 
Please note, because the session includes time-sensitive information, it will only be available until November 1, 2017. 

Resources

News and Updates:
What did I miss in Washington? (Article series from the Current member newsletter):
Business Officer magazine:

Financial Responsibility

  • ED Seeks Negotiators to Rewrite Financial Responsibility Rules. ED recently announced that it is soliciting nominations of representatives to serve on several stakeholder committees. One will revisit borrower defense to repayment rules and another will convene around gainful employment regulations. In addition, ED is seeking nominees for a subcommittee of the borrower defense committee to consider revisions to the financial responsibility standards. Please contact Anne Gross or Sue Menditto to learn more.

1098-T

  • 1098-T: Box 1 Will Be Required for Tax Year 2018 Reporting. Colleges and universities are allowed to use the Box 2 reporting method for tax year 2017 reporting (forms filed in early 2018).  However, federal officials recently informed NACUBO that the Internal Revenue Service (IRS) is not planning to grant any further relief from the Box 1 reporting requirement on the Form 1098-T. Box 2 reporting will not be an option for the 2018 Form (forms filed in early 2019).
  • The IRS has not yet issued final regulations on 1098-T reporting following its Notice of Proposed Rulemaking (NPRM) that calls for significant reporting changes to the form.
  • IRS Clarifies TIN Checkbox Instructions. The Internal Revenue Service (IRS) recently issued an updated Publication 1220, which includes specifications for filing the Form 1098-T. On page 86, the IRS updated instructions that clearly state the checkbox is for soliciting the student’s taxpayer identification number (TIN), not its accuracy. The description specifies the checkbox should be marked regardless of whether an institution performed the TIN solicitation in the current year or not.
  • NACUBO 1098-T Resources

Tax Issues

F&A

  • Congress has thoroughly rejected the Trump Administration’s proposed 10% cap on reimbursements of Facilities and Administrative (F&A) costs on National Institutes of Health (NIH) grants, with both Chambers passing appropriations bills that explicitly prohibit any changes to the current formula used to calculate indirect cost reimbursements. This language was also included in the recently passed stopgap spending bill that will fund the government through December 8. Congress also rejected the Administration’s proposal to cut the overall NIH budget and instead the Senate appropriated an additional $2 billion in funding for the agency while the House allowed for a $1.1 billion increase.  
  • F&A Resources

DACA

  • 82 higher ed. associations joined together in sending a letter to every Member of Congress, urging them to quickly pass bipartisan legislation to protect individuals enrolled in the Deferred Action for Childhood Arrival (DACA) program. Additionally, litigation surrounding the Trump Administration’s repeal of the program is escalating as three separate groups, including 2 comprised of different states’ attorneys general, and one from the University of California system, have filed suit against the federal government arguing that repeal of the program violates Constitutional due process and equal protection clauses.  

Overtime Rule

  • Changes to overtime regulations as passed under the Obama administration have been officially invalidated by the District Court judge who originally delayed the rule’s scheduled implementation via injunction. While the Department of Labor had taken steps to explore recrafting the rule while this litigation was pending, including requesting public comment, it is unknown whether the department will continue to work on modifying existing overtime rules now that there is no legal requirement to do so. NACUBO still plans to join in submitting comments regarding the rule by the comment period closing date of September 25.
National Cyber Security Awareness Month (NCSAM)

Advocacy

  • Value of Higher Education. NACUBO has launched a Value of Higher Education initiative that aims to counter the negative discourse surrounding the value of higher education, promote its myriad benefits, and shape public opinion toward a more positive perception of its contribution. Tools include infographics, success stories, and fact sheets, for use in developing op-eds, presentations, or interviews with the media.
  • All-in Advocacy: Effective communication of financial and budget information is a necessary and critical skill for today’s higher education business officers. However, it’s not enough to simply convey to the campus community the story the numbers tell.

Meet the Presenters  

  • Liz Clark, director, federal affairs, NACUBO
  • Bryan Dickson, senior policy analyst, NACUBO
  • Megan Schneider, assistant director, federal affairs, NACUBO

Who Should Participate

  • Chief business officers
  • Chief investment officers
  • Government relations staff
  • Accountants
  • Controllers
  • Budget directors
  • Vice presidents of finance
  • Tax directors

COURSE INFORMATION

  • Course Level: Intermediate
  • Course Type: Group internet based training
  • CPE Field of Study: Specialized Knowledge
  • Length: 30 minutes
  • Prerequisites: none
  • CPE Credits: 0.5 (each person must register individually to earn CPEs)


Fees

Member Site Fee: $0.00
Non-Member Site Registration: $99.00

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CPE Information

NACUBO is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.learningmarket.org.