; (ii) publicly disclose the applicable sanction on such institution that failed to meet such requirement, and include a caution flag with such disclosure; and (iii) remove a caution flag included under clause (ii) after the Secretary of Education certifies that such institution has demonstrated compliance with the eligibility requirements of subsection (a)(24). (4) Report to Congress Not later than July 1, 2020, and July 1 of each succeeding year, the Secretary shall submit to the authorizing committees a report that contains, for each proprietary institution of higher education that receives Federal educational assistance (as defined in subsection (a)(24)(B)), as provided in the audited financial statements submitted to the Secretary by each institution pursuant to the requirements of subsection (a)(24)— (A) the amount and percentage of such institution's revenues received from Federal educational assistance (as defined in subsection (a)(24)(B)), disaggregated by the source of the assistance; and (B) the amount and percentage of such institution's revenues received from other sources. . 5. Conversions to nonprofit or public institutions of higher education Section 498(i) of the Higher Education Act of 1965 ( 20 U.S.C. 1099c(i) ) is amended by adding at the end the following: (5) Notwithstanding any other provision of this Act, in the case of a proprietary institution of higher education approved for conversion to a nonprofit or public institution of higher education, such institution shall be subject to the requirement provided under section 487(a)(24), for the 2-year period after the date of conversion. . 6. Notification Not later than 90 days after the date of enactment of this Act, the Secretary of Education shall notify, in writing, proprietary institutions of higher education of the new requirements provided under the amendments made by this Act.