; and (2) in paragraph (2), by striking shall be developed and all that follows through the period at the end and inserting shall be developed for each academic year after academic year 2019–2020, by increasing each of the dollar amounts contained in such section for academic year 2019–2020 by a percentage equal to the estimated percentage increase in the Consumer Price Index (as determined by the Secretary for the most recent calendar year ending prior to the beginning of the academic year for which the determination is being made), and rounding the result to the nearest $10. . (e) Effective date The amendments made by this section shall take effect beginning on July 1, 2019, and shall apply to grant and award determinations made under title IV of the Higher Education Act of 1965 ( 20 U.S.C. 1001 et seq.) beginning with the 2019–2020 award year.