John Tierney: “In its current form, I am. The SPEAKER pro tempore. The Clerk will report the motion to recommit. The Clerk read as…”

“In its current form, I am. The SPEAKER pro tempore. The Clerk will report the motion to recommit. The Clerk read as follows: Mr. Tierney moves to recommit the bill, H.R. 3136, to the Committee on Education and the Workforce with instructions to report the same back to the House forthwith with the following amendment: At the end of the bill, add the following new section: SEC. __. PROVIDING STUDENTS WITH REBATES TO LOWER THEIR EDUCATION COSTS. (a) Rebates Authorized.--The Secretary of Education may use funds made available under this section to provide a rebate to a borrower of a loan made under part B or part D of title IV of the Higher Education Act of 1965 (20 U.S.C. 1070 et seq.) equal to the amount of savings the borrower would receive if the loan balance was refinanced at a rate equal to the rate that would be applicable to the loan if it were issued under such part D during the 12-month period beginning on July 1, 2013, and ending June 30, 2014. (b) Appropriation of Funds Required for Rebate.--The Secretary may only provide a rebate under subsection (a) to the extent that funds are appropriated in advance in an appropriations act for that purpose and shall only provide eligible borrowers a rebate on a first-come, first-served basis. (c) Application.--Each borrower who seeks a rebate under subsection (a) shall submit an application to the Secretary not later than June 30, 2015.…”