A grantee may keep program income if it uses it under the same rules
What the document says“any grantee under this section may retain program income that is realized from grants made by the Secretary under this section if the grantee agrees that the grantee will utilize the program income in accordance with the requirements for grants under this section, except that the Secretary may--”
The new section 124 lets a grantee keep program income from its grants if it agrees to use that income under the same requirements, while letting the Secretary exclude amounts too small to be worth tracking and permit remaining program income to be moved to the grantee's other grants under the title at closeout.
What the document actually says“any grantee under this section may retain program income that is realized from grants made by the Secretary under this section if the grantee agrees that the grantee will utilize the program income in accordance with the requirements for grants under this section, except that the Secretary may--”
A place may keep the money a grant earns back. It must agree to spend it under the same rules.
Program income is money a grant generates, such as loan repayments. Small amounts may be left out by rule. Leftovers may move to another grant at the end.
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