NACUBO On Your Side: October 11–16, 2023
10/16/2023
As things move quickly in Washington, DC, NACUBO is your constant advocate in action. NACUBO On Your Side covers important legislative and agency activity NACUBO staff are tracking, what we’re currently advocating for, and how you can take action with us.
Here are the issues we are tracking and advocating for this week.
Agency Action
ED Shares Details on Capital Distribution From Perkins Loan Revolving Fund
The Department of Education announced that it will soon begin the Distribution of Assets process for the Perkins Loan Revolving Fund. Notifications from ED will identify the federal share and institutional share dollars that must be removed from the fund and returned to ED and the institution, respectively. This also will include partial reimbursements for Perkins Loan service cancellations. An institution should not remove and return any amounts—to ED or to itself—until notified by ED.
ED Gathers Negotiators for Student Loan Relief Rulemaking
Last week, the Department of Education virtually convened the first of three negotiated rulemaking sessions designed to formulate and build consensus around a new student debt relief rule. The convening, comprised of a diverse group of 16 higher education stakeholders, is the latest step in the Biden administration’s ongoing efforts to forgive federal student debt. ED is expected to share draft proposed regulations prior to the next meeting on November 7.
Final IRS Rules on Gifts to Supporting Organizations
The IRS has released final regulations addressing the prohibition on certain gifts or contributions to Type I and Type II supporting organizations. The final regulations, effective immediately, affect certain Type I and Type II supporting organizations and the organizations they support.
Take Action
Advocacy Tool Enables Outreach on Proposed Overtime Rules
A tool shared by the Partnership to Protect Workplace Opportunity, a coalition of employers in almost every sector of the national economy, makes it simple to contact legislators and regulators regarding the Department of Labor’s recent proposal to expand the Fair Labor Standards Act’s salary-level threshold for overtime pay. The tool contains model language and can connect you with your elected representatives.
Independent Sector Shares Advocacy Tool to Grow Charitable Giving
Building on research that indicated overwhelming support for expanding charitable giving incentives to all Americans, Independent Sector has shared a tool to help individuals ask their elected officials to support the Charitable Act.
