12 2 STA T .3 312 PUBLIC LA W 11 0– 31 5— AU G .1 4, 200 8‘ ‘ (A)INELIG I B ILI TY.— A pro pr ieta r y i ns tit u tion o fh i g her e d u c ation that fai l sto m eetare q uirement of su b section (a)( 24 )fort w o consecuti v e institutional fiscal years shall be ineligible to participate in the programs authori z ed by this title for a period of not less than two institutional fiscal years. T o regain eligibility to participate in the pro - grams authorized by this title , a proprietary institution of higher education shall demonstrate compliance with all eligibility and certification requirements under section 4 98 for a minimum of two institutional fiscal years after the institutional fiscal year in which the institution became ineligible. ‘‘( B )A D DITI O N A LEN F O RC E M ENT.—In addition to such other means of enforcing the requirements of this title as may be available to the S ecretary, if a proprietary institution of higher education fails to meet a requirement of subsection (a)(24) for any institutional fiscal year, then the institution ’ s eligibility to participate in the programs authorized by this title becomes provisional for the two institutional fiscal years after the institutional fiscal year in which the institution failed to meet the requirement of subsection (a)(24), e x cept that such provisional eligibility shall terminate— ‘‘(i) on the expiration date of the institution’s pro- gram participation agreement under this subsection that is in effect on the date the Secretary determines that the institution failed to meet the requirement of subsection (a)(24)
or ‘‘(ii) in the case that the Secretary determines that the institution failed to meet a requirement of sub- section (a)(24) for two consecutive institutional fiscal years, on the date the institution is determined ineli- gible in accordance with subparagraph (A). ‘‘( 3 ) PU BLICATION ON COLLEGE NA V IGATOR W EB S ITE.—The Secretary shall publicly disclose on the C ollege N avigator website— ‘‘(A) the identity of any proprietary institution of higher education that fails to meet a requirement of subsection (a)(24); and ‘‘(B) the extent to which the institution failed to meet such requirement. ‘‘(4) R E P ORT TO CONGRESS.—Not later than J uly 1 ,2 0 09, and July 1 of each succeeding year, the Secretary shall submit to the authorizing committees a report that contains, for each proprietary institution of higher education that receives assist- ance under this title, as provided in the audited financial state- ments submitted to the Secretary by each institution pursuant to the requirements of subsection (a)(24)— ‘‘(A) the amount and percentage of such institution’s revenues received from sources under this title; and ‘‘(B) the amount and percentage of such institution’s revenues received from other sources. ‘‘(e) CODE OF CONDUCT RE Q UIREMENTS.—An institution of higher education’s code of conduct, as required under subsection (a)(2 5 ), shall include the following requirements
‘‘(1) BAN ON REVENUE-S H ARING ARRANGEMENTS.— Terminat i o n .
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