FUTURE Act

To reauthorize mandatory funding programs for historically Black colleges and universities and other minority-serving institutions. 1. Short title This Act may be cited as the Fostering Undergraduate Talent by Unlocking Resources for Education Act FUTURE Act 2. Strengthening historically black colleges and universities and other minority-serving institutions Section 371(b) of the Higher Education Act of 1965 ( 20 U.S.C. 1067q(b) (1) in paragraph (1)(A)— (A) in the first sentence, by striking through 2019 through 2021 (B) by striking the second sentence; and (2) in paragraph (2)— (A) in subparagraph (A)— (i) in clause (ii)— (I) by striking $100,000,000 $85,000,000 (II) by striking and (ii) by redesignating clause (iii) as clause (iv); (iii) by inserting after clause (ii) the following: (iii) $15,000,000 shall be available for allocation under subparagraph (D); and ; and (iv) in clause (iv), as redesignated by clause (ii), by striking (D) (E) (B) by striking subparagraph (C) and inserting the following: (C) Allocation and allotment hbcus The amount made available for allocation under this subparagraph by subparagraph (A)(ii) for any fiscal year shall be available to eligible institutions described in subsection (a)(1) and shall be made available as grants under section 323 and allotted among such institutions under section 324, treating such amount, plus the amount appropriated for such fiscal year in a regular or supplemental appropriation Act to carry out part B of this title, as the amount appropriated to carry out part B of this title for purposes of allotments under section 324, for use by such institutions with a priority for— (i) activities described in paragraphs (1), (2), (4), (5), and (10) of section 323(a); and (ii) other activities, consistent with the institution's comprehensive plan and designed to increase the institution's capacity to prepare students for careers in the physical or natural sciences, mathematics, computer science or information technology or sciences, engineering, language instruction in the less commonly taught languages or international affairs, or nursing or allied health professions. ; (C) by redesignating subparagraph (D) as subparagraph (E); (D) by inserting after subparagraph (C) the following: (D) Allocation and allotment pbis (i) In general The amount made available for allocation under this subparagraph by subparagraph (A)(iii) for any fiscal year shall be available to eligible institutions described in subsection (a)(5) and shall be available for a competitive grant program to award grants of $600,000 annually for programs in any of the following areas: (I) Science, technology, engineering, or mathematics (STEM). (II) Health education. (III) Internationalization or globalization. (IV) Teacher preparation. (V) Improving educational outcomes of African American males. (ii) Excess funds The Secretary shall allot any amounts remaining from the amount made available for allocation under this subparagraph by subparagraph (A)(iii) for any fiscal year after grants are awarded under clause (i) to eligible institutions described in subsection (a)(5) for activities determined appropriate by the Secretary. ; and (E) in subparagraph (E), as redesignated by subparagraph (C), in the matter preceding clause (i), by striking subparagraph (A)(iii) subparagraph (A)(iv) 3. Elimination of account maintenance fees Section 458(a)(4) of the Higher Education Act of 1965 ( 20 U.S.C. 1087h(a)(4) Notwithstanding any other provision of this Act, the authority to obligate funds for account maintenance fees under this section shall expire at the end of fiscal year 2019.

Summary: Fostering Undergraduate Talent by Unlocking Resources for Education Act or the FUTURE Act This bill extends through FY2021 and revises mandatory funding&nbsp;programs for historically black colleges and universities and other minority-serving institutions, including by allocating a portion of the funding for grants to predominantly black institutions for programs in (1) science, technology, engineering, or mathematics; (2) health education; (3) internationalization or globalization; (4) teacher preparation; or (5) improving educational outcomes of African-American males.