Cases & Developments

Summary from the National Association of College & University Business Officers on legislative and regulatory actions that occurred from October 17-23, 2023. This summary highlights a letter from 17 lawmakers to the Departments of Education and Agriculture requesting clarification of flexibilities for and increased access to the Supplemental Nutrition Assistance Program (SNAP) for college students, since the pandemic-era waiver expired on July 1; the announcement by the IRS of a special process for employers to withdraw claims for the Employer Retention Credit (ERC) if they are concerned about the accuracy of their claims; a new application process for the Low-Income Communities Bonus Credit Program to increase certain investment tax credits for projects located in qualifying areas; and advocacy from the American Council on Education (ACE) and NACUBO requesting that the Department of Labor (DOL) extend the comment period by 60 days on its proposed increase of the salary threshold for overtime pay.   

Letter from the American Council on Education (ACE) and five other higher education associations to the Middle States Commission on Higher Education (MSCHE) regarding its recent proposed policy on third-party servicers. Noting the recent interest by the Department of Education in increasing oversight of third-party servicers, the associations urge the MSCHE to limit the scope of its definition of third-party providers in its proposed policy. The associations also urge the MSCHE to pause its efforts until after ED addresses TPS regulation through negotiated rulemaking.  

Summary from the National Association of College & University Business Officers on legislative and regulatory actions that occurred from October 11-16, 2023. This summary highlights the Department of Education’s announcement that it will begin the Distribution of Assets process for the Perkins Loan Revolving Fund; the first of ED’s three negotiated rulemaking sessions on a new student debt relief rule; new regulations from the IRS addressing the prohibition on certain gifts or contributions to Type I and Type III supporting organizations; a tool from the Partnership to Protect Workplace Opportunity for individuals to contact legislators and regulators regarding the Department of Labor’s proposed rule on the Fair Labor Standards Act’s salary-level threshold for overtime pay; and a tool from Independent Sector for individuals to contact elected officials to support expanding charitable giving incentives through the Charitable Act. 

Summary from the National Association of College & University Business Officers on legislative and regulatory actions that occurred from October 3-10, 2023. This summary highlights the vote in the U.S. House of Representatives to remove Speaker McCarthy; the release by the U.S. Department of Education Office of Federal Student Aid (FSA) of a prototype of the new Free Application for Federal Student Aid (FAFSA); changes by FSA to its guidance on audits for student consent to opening accounts such as bank cards as devices to provide students with access to their balances; a new FSA Training Conference; a recap from the Financial Accounting Standards Board of its September Not-for-Profit Advisory Committee meeting; NACUBO’s advocacy with the White House for greater support for student aid; its comments with the American Council on Education (ACE) and other associations to the Department of Justice on its NPRM on accessibility of online information for public colleges and universities; its advocacy with multiple agencies for greater support for student mental health efforts; and a new tool to help interested parties to contact legislators and regulators regarding the Department of Labor’s proposal to expand the Fair Labor Standards Act’s salary-level threshold for overtime pay.   

Summary from the National Association of College & University Business Officers on legislative and regulatory actions that occurred between September 26 and October 2, 2023. This summary highlights Congress’s approval of a 45-day stopgap funding bill to avert a government shutdown and keep federal agencies operating at current funding levels; the Department of Education’s Final Rule on financial value transparency and gainful employment; the Biden Administration’s announcement of a “fundamental rewrite” of the Office of Management and Budget’s (OMB) Uniform Grant Guidance; and a Department of Education Report outlining legal pathways for increasing diversity in admissions.   

Summary from the National Association of College & University Business Officers on legislative and regulatory actions that occurred from September 6-18, 2023.  This summary highlights the IRS’ announcement of a moratorium on processing new employee retention credit claims through the end of the year; a CFPB Report on Tuition Payment Plans in Higher Education; a poll by Independent Sector finding broad support for restoring the universal charitable deduction for taxpayers; and a new Governmental Accounting Standards Board (GASB) project to review its guidance on accounting and financial reporting issues related to subsequent events.  

Summary from the National Association of College & University Business Officers on legislative and regulatory actions that occurred from August 8-14, 2023.  This summary highlights an executive order from the White House and a related Advance Notice of Proposed Rulemaking from the Department of the Treasury Investment Security Office addressing concerns related to certain investments in “countries of concern;” the Department of Labor’s final regulations on wage rates in federally funded construction projects; a decision from the Fifth Circuit blocking the Department of Education’s borrower defense repayment rules pending appeal; and NACUBO’s advocacy thanking IRS leaders for proposed rules clarifying that public universities that are instrumentalities of their states are eligible for the direct pay option for various tax credits under the Inflation Reduction Act.