SECTION 1. SHORT TITLE.

    This Act may be cited as the ``College Cost Reduction Act of 
2012''.

SEC. 2. HIGHER EDUCATION REGULATORY REFORM TASK FORCE.

    (a) Task Force Established.--Not later than 6 months after the date 
of enactment of this Act, the Secretary of Education shall establish 
the Higher Education Regulatory Reform Task Force.
    (b) Membership.--The Higher Education Regulatory Reform Task Force 
shall include--
            (1) the Secretary of Education or the Secretary's designee;
            (2) the head of each other Federal agency (or such head's 
        designee) that the Secretary of Education determines to be 
        relevant to the activities of the Higher Education Regulatory 
        Reform Task Force;
            (3) a representative of the Advisory Committee on Student 
        Financial Assistance established under section 491 of the 
        Higher Education Act of 1965 (20 U.S.C. 1098);
            (4) representatives from the higher education community, 
        including--
                    (A) institutions of higher education, with equal 
                representation of public and private nonprofit 
                institutions, and two-year and four-year institutions, 
                and with not less than 25 percent of such 
                representative institutions carrying out distance 
                education programs; and
                    (B) nonprofit organizations representing 
                institutions of higher education; and
            (5) any other entity or individual the Secretary of 
        Education determines appropriate.
    (c) Activities.--
            (1) Report required.--Not later than one year after the 
        date of enactment of this Act, the Secretary of Education shall 
        submit to Congress and make available on a publicly available 
        website a report (in this Act referred to as the ``Higher 
        Education Regulatory Reform Report'') prepared by the Higher 
        Education Regulatory Reform Task Force on Federal regulatory 
        requirements for institutions of higher education. In 
        prioritizing the review and consideration of such regulatory 
        requirements for the purposes of the Higher Education 
        Regulatory Reform Report, the Higher Education Regulatory 
        Reform Task Force shall give highest priority to regulations 
        related to--
                    (A) State authorization of distance education;
                    (B) the Integrated Postsecondary Education Data 
                System (IPEDS);
                    (C) the Office of Management and Budget's A-21 
                Circular;
                    (D) reporting under the Jeanne Clery Disclosure of 
                Campus Security Policy and Campus Crime Statistics Act;
                    (E) calculation of default rates under section 
                435(a) of the Higher Education Act of 1965;
                    (F) gainful employment;
                    (G) revenue requirements for institutions of higher 
                education under section 487(a)(24) and (d) of the 
                Higher Education Act of 1965; and
                    (H) the Single Audit Act of 1984 and the Office of 
                Management and Budget's A-133 Circular.
            (2) Contents of report.--The Higher Education Regulatory 
        Reform Report shall contain the following with respect to 
        regulatory requirements for institutions of higher education:
                    (A) A list of rules that are determined to be 
                outmoded, duplicative, ineffective, or excessively 
                burdensome.
                    (B) For each rule listed in accordance with 
                subparagraph (A), an analysis of how the costs outweigh 
                the benefits for such rule.
                    (C) Recommendations to consolidate, modify, 
                simplify, or repeal such rules to make such rules more 
                effective or less burdensome.
                    (D) A description of the justification for and 
                impact of the recommendations described in subparagraph 
                (C), as appropriate and available, including supporting 
                data for such justifications and the financial impact 
                of such recommendations on institutions of higher 
                education of varying sizes and types.
                    (E) Recommendations on the establishment of a 
                permanent entity to review new regulatory requirements 
                affecting institutions of higher education.
            (3) Notice and comment.--At least 60 days before submission 
        of the Higher Education Regulatory Reform Report required under 
        paragraph (1), the Secretary of Education shall publish the 
        report in the Federal Register for public notice and comment. 
        The Higher Education Regulatory Reform Task Force may modify 
        the report in response to any comments received before 
        submission of the report to Congress.
    (d) Definition of Institution of Higher Education.--For the 
purposes of this section, the term ``institution of higher education'' 
has the meaning given such term in section 101(a) of the Higher 
Education Act of 1965 (20 U.S.C. 1001(a)).

SEC. 3. EXPEDITED CONSIDERATION BY CONGRESS.

    (a) Presentation of Higher Education Regulatory Reform Report to 
Congress and Expedited Consideration.--
            (1) In general.--The President shall propose, at the time 
        and in the manner provided in paragraph (2), the carrying out 
        of all or part of the recommendations contained in the Higher 
        Education Regulatory Reform Report prepared by the Higher 
        Education Regulatory Reform Task Force in accordance with 
        section 2.
            (2) Transmittal of special message.--
                    (A) Message requirements.--Not later than 120 days 
                after the submission of the Higher Education Regulatory 
                Reform Report to Congress under section 2(c), the 
                President shall transmit to Congress a special message 
                to carry out all or part of the recommendations 
                contained in such Report. The President shall include 
                with that special message a bill that would carry out 
                the recommendations. The President may not transmit 
                more than one such special message each year.
                    (B) Bill text.--The President shall include in the 
                bill required under subparagraph (A), without 
                amendment, the following text:

``SEC. 2. CONTROLLING RISING COLLEGE COSTS.

    ``(a) Controlling Rising College Costs.--Not later than 180 days 
after the date of enactment of this Act, the Secretary shall promulgate 
regulations that--
            ``(1) require institutions of higher education to control 
        annual tuition increases; and
            ``(2) establish penalties for institutions of higher 
        education that do not comply with the regulations promulgated 
        under paragraph (1), taking into account the affects of such 
        penalties on various types of institutions and the specific 
        circumstances of institutions that may result in such 
        noncompliance, including failure of States to adhere to 
        maintenance of effort requirements under section 137 of the 
        Higher Education Act of 1965 (20 U.S.C. 1015f).
    ``(b) Inapplicability of Rulemaking Requirements.--Section 482(c) 
and section 492 of the Higher Education Act of 1965 (20 U.S.C. 1089(c); 
1098a) shall not apply to the regulations required by this section.
    ``(c) Definitions.--For purposes of this section:
            ``(1) Institution of higher education.--The term 
        `institution of higher education' has the meaning given the 
        term in section 102 of the Higher Education Act of 1965 (20 
        U.S.C. 1002).
            ``(2) Annual tuition.--The term `tuition' means the average 
        annual cost of tuition and fees for an institution of higher 
        education for first-time, full-time undergraduate students 
        enrolled in the institution.''.
            (3) Expedited consideration of president's higher education 
        regulatory reform bill.--
                    (A) Higher education regulatory reform bill.--
                Within 14 days after the President submits to Congress 
                a bill under paragraph (2), the majority leader of the 
                House of Representatives and the majority leader of the 
                Senate shall each introduce such bill, by request.
                    (B) Consideration in the house of 
                representatives.--
                            (i) Referral and reporting.--Any committee 
                        of the House of Representatives to which such 
                        bill is referred shall report it to the House 
                        without amendment not later than the 14th 
                        legislative day after the date of its 
                        introduction. If a committee fails to report 
                        the bill within that period or the House has 
                        adopted a concurrent resolution providing for 
                        adjournment sine die at the end of a Congress, 
                        such committee shall be automatically 
                        discharged from further consideration of the 
                        bill and it shall be placed on the appropriate 
                        calendar.
                            (ii) Proceeding to consideration.--Not 
                        later than 21 legislative days after such bill 
                        is reported or a committee has been discharged 
                        from further consideration thereof, it shall be 
                        in order to move to proceed to consider such 
                        bill in the House. Such a motion shall be 
                        highly privileged and not debatable, and shall 
                        be in order only at a time designated by the 
                        Speaker in the legislative schedule within two 
                        legislative days after the day on which the 
                        proponent announces an intention to the House 
                        to offer the motion provided that such notice 
                        may not be given until such bill is reported or 
                        a committee has been discharged from further 
                        consideration thereof. Such a motion shall not 
                        be in order after the House has disposed of a 
                        motion to proceed with respect to that special 
                        message. The previous question shall be 
                        considered as ordered on the motion to its 
                        adoption without intervening motion. A motion 
                        to reconsider the vote by which the motion is 
                        disposed of shall not be in order.
                            (iii) Consideration.--If the motion to 
                        proceed is agreed to, the House shall 
                        immediately proceed to consider such bill in 
                        the House without intervening motion. Such bill 
                        shall be considered as read. All points of 
                        order against the bill and against its 
                        consideration are waived. The previous question 
                        shall be considered as ordered on the bill to 
                        its passage without intervening motion except 4 
                        hours of debate equally divided and controlled 
                        by the proponent and an opponent and one motion 
                        to limit debate on the bill. A motion to 
                        reconsider the vote on passage of the bill 
                        shall not be in order.
                    (C) Consideration in the senate.--
                            (i) Committee action.--The appropriate 
                        committee of the Senate shall report without 
                        amendment the bill referred to in subparagraph 
                        (A) not later than the seventh session day 
                        after introduction. If a committee fails to 
                        report the bill within that period or the 
                        Senate has adopted a concurrent resolution 
                        providing for adjournment sine die at the end 
                        of a Congress, the Committee shall be 
                        automatically discharged from further 
                        consideration of the bill and it shall be 
                        placed on the appropriate calendar.
                            (ii) Motion to proceed.--Not later than 3 
                        session days after the bill is reported in the 
                        Senate or the committee has been discharged 
                        thereof, it shall be in order for any Senator 
                        to move to proceed to consider the bill in the 
                        Senate. The motion shall be decided without 
                        debate and the motion to reconsider shall be 
                        deemed to have been laid on the table. Such a 
                        motion shall not be in order after the Senate 
                        has disposed of a prior motion to proceed with 
                        respect to the draft bill.
                            (iii) Consideration.--If a motion to 
                        proceed to the consideration of the draft bill 
                        is agreed to, the Senate shall immediately 
                        proceed to consideration of the draft bill 
                        without intervening motion, order, or other 
                        business, and the draft bill shall remain the 
                        unfinished business of the Senate until 
                        disposed of. Consideration on the bill in the 
                        Senate under this subsection, and all debatable 
                        motions and appeals in connection therewith, 
                        shall not exceed 10 hours equally divided in 
                        the usual form. All points of order against the 
                        draft bill or its consideration are waived. 
                        Consideration in the Senate on any debatable 
                        motion or appeal in connection with the draft 
                        bill shall be limited to not more than 10 
                        hours. A motion to postpone, or a motion to 
                        proceed to the consideration of other business, 
                        or a motion to recommit the draft bill is not 
                        in order. A motion to reconsider the vote by 
                        which the draft bill is agreed to or disagreed 
                        to is not in order.
                    (D) Amendments prohibited.--No amendment to, or 
                motion to strike a provision from, the draft bill 
                considered under this section shall be in order in 
                either the House of Representatives or the Senate.
                    (E) Coordination with action by other house.--If, 
                before passing the bill, one House receives from the 
                other a bill--
                            (i) the bill of the other House shall not 
                        be referred to a committee; and
                            (ii) the procedure in the receiving House 
                        shall be the same as if no bill had been 
                        received from the other House until the vote on 
                        passage, when the bill received from the other 
                        House shall supplant the bill of the receiving 
                        House.
                    (F) Limitation.--This paragraph shall apply only to 
                the bill referred to in subparagraph (A), introduced 
                pursuant to such subparagraph.
    (b) Definition.--For purposes of this section, continuity of a 
session of either House of Congress shall be considered as broken only 
by an adjournment of that House sine die, and the days on which that 
House is not in session because of an adjournment of more than 3 days 
to a date certain shall be excluded in the computation of any period.
College Cost Reduction Act of 2012 - Directs the Secretary of Education to establish the Higher Education Regulatory Reform Task Force to prepare a report, that is to be submitted to Congress and made available on a publicly accessible website, on federal regulatory requirements for institutions of higher education (IHEs).

Requires the report to contain: (1) a list of rules that are determined to be outmoded, duplicative, ineffective, or excessively burdensome; (2) an analysis of how the costs of such rules outweigh their benefits; (3) recommendations to consolidate, modify, simplify, or repeal such rules and a description of the justification for and impact of such recommendations; and (4) recommendations on establishing a permanent entity to review new regulatory requirements affecting IHEs.

Requires the President to submit to Congress a legislative proposal for carrying out some or all of the recommendations contained in the report. Includes, as part of that proposal, a requirement that the Secretary promulgate regulations requiring IHEs to control annual tuition increases and penalizing noncompliant schools.

Establishes congressional procedures to expedite consideration of the President's proposal.
To establish the Higher Education Regulatory Reform Task Force, to establish procedures for the presentation and expedited consideration by Congress of the recommendations of the Higher Education Regulatory Reform Task Force, to establish requirements for college cost reduction, and for other purposes.