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Adds an annual third‑party audit requirement to 42 U.S.C. 1761(m), requiring each service institution to have its accounts and records audited by a third‑party auditor that submits the audit results directly to the Secretary, and prohibiting the auditor from being the service institution or a sponsor organization.
Amends 18 U.S.C. 666 to (1) replace the statutory fine with a defined 'covered amount' and increase the maximum imprisonment term, and (2) add a definition of 'covered amount' in subsection (d) and adjust paragraph numbering and punctuation.
Referred to the Committee on the Judiciary, and in addition to the Committee on Education and Workforce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Introduced January 20, 2026 by Angela Craig · Last progress January 20, 2026
Referred to the Committee on the Judiciary, and in addition to the Committee on Education and Workforce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Introduced in House