1. Short title This Act may be cited as the Investing in Student Success Act of 2017 . 2. Definition In this Act, the term income share agreement means an agreement between an individual and any other person under which the individual commits to pay a specified percentage of the future income of the individual, for a specified period of time, in exchange for payments to or on behalf of the individual for postsecondary education, workforce development, or other purposes. I Authorization of Income Share Agreements 101. Definitions In this title: (1) State The term State includes, in addition to the several States of the Union, the Commonwealth of Puerto Rico, the District of Columbia, Guam, American Samoa, the Virgin Islands, the government of the Northern Mariana Islands, and the Trust Territory of the Pacific Islands. (2) State law The term State law means any law, decision, rule, regulation, or other action having the effect of a law of any State or any political subdivision of a State, or any agency or instrumentality of a State or political subdivision of a State, except that a law of the United States applicable only to the District of Columbia shall be treated as a State law (rather than a law of the United States). 102. Purpose; lawfulness of instruments; preemption of State law (a) Purpose The purpose of this title is to authorize individuals to enter into income share agreements for the purposes of obtaining funds for postsecondary education in exchange for agreeing to pay to the holder of the contract a specified percentage of the future income of the individual. (b) Lawfulness of contracts