Restoring College Access and Affordability Act

Section 82001 of the Act titled An Act to provide for reconciliation pursuant to title II of H. Con. Res. 14 (Public Law 119–21; 139 Stat. 72) is repealed and any law or regulation referred to in such section shall be applied as if such section and the amendments made by such section had not been enacted.

Section 82002 of the Act titled An Act to provide for reconciliation pursuant to title II of H. Con. Res. 14 (Public Law 119–21; 139 Stat. 72) is repealed and any law or regulation referred to in such section shall be applied as if such section and the amendments made by such section had not been enacted.

Section 82004 of the Act titled An Act to provide for reconciliation pursuant to title II of H. Con. Res. 14 (Public Law 119–21; 139 Stat. 72) is repealed and any law or regulation referred to in such section shall be applied as if such section and the amendments made by such section had not been enacted.

Section 83001 of the Act titled An Act to provide for reconciliation pursuant to title II of H. Con. Res. 14 (Public Law 119–21; 139 Stat. 72) is repealed and any law or regulation referred to in such section shall be applied as if such section and the amendments made by such section had not been enacted.

Section 83004 of the Act titled An Act to provide for reconciliation pursuant to title II of H. Con. Res. 14 (Public Law 119–21; 139 Stat. 72) is repealed and any law or regulation referred to in such section shall be applied as if such section and the amendments made by such section had not been enacted.

(1) in paragraph (1)—

(A) by striking Notwithstanding section 481(b), and inserting the following:

Notwithstanding section 481(b),

(B) by striking an educational program and inserting a covered educational program; and

(C) by adding at the end the following:

In this subsection, the term covered educational program means an eligible program under this title that is—

(i) a program of training to prepare students for gainful employment in a recognized occupation (such as a program that awards a certificate or credential), or a program that awards an associate's degree;

(ii) a program that awards an associate's degree or a baccalaureate degree; or

(iii) a program that awards a graduate or professional degree, or graduate certificate.

(2) in paragraph (2), by striking An educational program at an institution is described in this paragraph if the program awards an undergraduate degree, graduate or professional degree, or graduate certificate, for which and inserting A covered educational program at an institution is described in this paragraph if the program is a program for which;

(3) in paragraph (3)—

(A) in subparagraph (A)—

(i) in the matter preceding clause (i), by striking an educational program and inserting a covered educational program;

(ii) in clause (iii)(I), by striking an educational program that awards a baccalaureate or lesser degree, and inserting a covered educational program described in clause (i) or (ii) of paragraph (1)(B),; and

(iii) in clause (iii)(II), by striking a graduate or professional program, and inserting a covered educational program described in clause (iii) of paragraph (1)(B),; and

(B) in subparagraph (B)—

(i) in the matter preceding clause (i), by striking an educational program and inserting a covered educational program;

(ii) in clause (i), in the matter preceding subclause (I), by striking that awards a baccalaureate or lesser degree and inserting that is a covered educational program described in clause (i) or (ii) of paragraph (1)(B),; and

(iii) in clause (ii), in the matter preceding subclause (I), by striking that is a graduate or professional program and inserting that is a covered educational program described in clause (iii) of paragraph (1)(B),;

(4) in paragraph (4)—

(A) by striking an educational program and inserting a covered educational program; and

(B) by inserting covered before educational programs;

(5) in paragraph (5)—

(A) by striking An educational program and inserting A covered educational program; and

(B) by striking the educational program and inserting the covered educational program;

(6) in paragraph (6)(A)—

(A) by striking an educational program and inserting a covered educational program; and

(B) by striking the educational program and inserting the covered educational program, each place the term appears; and

(7) in paragraph (7), by striking an educational program and inserting a covered educational program.

Section 85001 of the Act titled An Act to provide for reconciliation pursuant to title II of H. Con. Res. 14 (Public Law 119–21; 139 Stat. 72) is repealed and any law or regulation referred to in such section shall be applied as if such section and the amendments made by such section had not been enacted.

Section 85002 of the Act titled An Act to provide for reconciliation pursuant to title II of H. Con. Res. 14 (Public Law 119–21; 139 Stat. 72) is repealed and any law or regulation referred to in such section shall be applied as if such section and the amendments made by such section had not been enacted.

Subsection (a) of section 4968 of the Internal Revenue Code of 1986 is amended by striking the applicable percentage and inserting 1.4 percent.

(1) Section 4968 of the Internal Revenue Code of 1986 is amended by striking subsection (b) and by redesignating subsections (c), (d), (e), (f), (g), and (h) as subsections (b), (c), (d), (e), (f), and (g), respectively.

(2) Subsection (e) of section 4968 of such Code is amended by striking (c) and (d) and inserting (b) and (c).

(3) Paragraph (1) of section 4968(g) of such Code is amended by striking (d) and (f) and inserting (c) and (e).

(4) Subsection (o) of section 6033 of such Code is amended—

(A) by striking 4968(c) both places it appears and inserting 4968(b), and

(B) by striking 4968(e) in paragraph (2) thereof and inserting 4968(d).

The amendments made by this section shall apply to taxable years beginning after December 31, 2025.