1. Short title This Act may be cited as the Protecting Our Students and Taxpayers Act of 2017 or POST Act of 2017 . 2. 85/15 rule (a) In general Section 102(b) of the Higher Education Act of 1965 ( 20 U.S.C. 1002(b) ) is amended— (1) in paragraph (1)— (A) in subparagraph (D), by striking and after the semicolon; (B) in subparagraph (E), by striking the period at the end and inserting ; and ; and (C) by adding at the end the following: (F) meets the requirements of paragraph (2). ; (2) by redesignating paragraph (2) as paragraph (3); and (3) by inserting after paragraph (1) the following: (2) Revenue sources (A) In general In order to qualify as a proprietary institution of higher education under this subsection, an institution shall derive not less than 15 percent of the institution's revenues from sources other than Federal funds, as calculated in accordance with subparagraphs (B) and (C). (B) Federal funds In this paragraph, the term Federal funds means any Federal financial assistance provided, under this Act or any other Federal law, through a grant, contract, subsidy, loan, guarantee, insurance, or other means to a proprietary institution, including Federal financial assistance that is disbursed or delivered to an institution or on behalf of a student or to a student to be used to attend the institution, except that such term shall not include any monthly housing stipend provided under the Post-9/11 Veterans Educational Assistance Program under chapter 33 of title 38, United States Code. (C) Implementation of non-Federal revenue requirement In making calculations under subparagraph (A), an institution of higher education shall— (i) use the cash basis of accounting; (ii) consider as revenue only those funds generated by the institution from— (I) tuition, fees, and other institutional charges for students enrolled in programs eligible for assistance under title IV