1. Short title This Act may be cited as the America’s College Promise Act of 2019 . 2. Program authorized Title IV of the Higher Education Act of 1965 ( 20 U.S.C. 1070 et seq.) is amended by adding at the end the following: J America’s College Promise Federal-State Partnership 1 State and Indian Tribe Grants for Community Colleges 499A. In general From amounts appropriated under section 499G for any fiscal year, the Secretary shall award grants to eligible States and Indian tribes to pay the Federal share of expenditures needed to carry out the activities and services described in section 499E. 499B. Federal share; non-Federal share (a) Federal share (1) Formula Subject to paragraph (2), the Federal share of a grant under this subpart shall be based on a formula, determined by the Secretary, that— (A) accounts for the State or Indian tribe’s share of eligible students; (B) accounts for the ratio between a State or Indian tribe’s funding per full-time equivalent (FTE) student at public colleges and universities and the average net price at State public four-year colleges and universities, in such a way as to reward States that keep net prices for students low while maintaining their investment in higher education; and (C) provides, for each eligible student in the State or Indian tribe, a per-student amount that is at least 75 percent of— (i) for the 2020–2021 award year, the average resident community college tuition and fees per student in all States for the most recent year for which data are available; and (ii) for each subsequent award year, the amount determined under this clause for the preceding award year, increased by the lesser of— (I) a percentage equal to the estimated percentage increase in the Consumer Price Index (as determined by the Secretary) since the date of such determination