1. Short title This Act may be cited as the Student and Taxpayer Protection Act . 2. Gainful employment programs Part A of title I of the Higher Education Act of 1965 ( 20 U.S.C. 1001 et seq.) is amended by adding at the end the following: 104. Program of training to prepare students for gainful employment in a recognized occupation (a) Gainful employment program defined In this Act (including for purposes of sections 101 and 102), the term program of training to prepare students for gainful employment in a recognized occupation (in this section referred to as training program ) means a training program that— (1) is in compliance with the performance metrics (including the eligibility thresholds for each such metric) established under subsection (b)(1); (2) is in compliance with the notice requirements under subsection (b)(1)(C)(i)(II); (3) is otherwise eligible to receive funds under title IV; and (4) is not a training program that is substantially similar to a training program which, during a period determined by the Secretary, did not meet one or more of the performance metrics (such as an eligibility threshold) described in paragraph (1). (b) Secretarial requirements (1) Establishment of requirements (A) In general Not later than 18 months after the date of enactment of the Student and Taxpayer Protection Act , the Secretary shall establish requirements for training programs to be eligible training programs for purposes of receiving funds under title IV, which shall include— (i) establishing performance metrics (including eligibility thresholds for each such metric) described in subparagraph (B)