1. Short title This Act may be cited as the Protect Veterans' Education and Taxpayer Spending Act of 2019 . 2. Counting military and veteran education benefits as Federal educational assistance (a) In general Section 487(a)(24) of the Higher Education Act of 1965 ( 20 U.S.C. 1094(a)(24) ) is amended to read as follows: (24) (A) In the case of a proprietary institution of higher education (as defined in section 102(b)), such institution will derive not less than ten percent of such institution's revenues from sources other than Federal educational assistance, as calculated in accordance with subsection (d)(1), or will be subject to the sanctions described in subsection (d)(2). (B) In this paragraph, the term Federal educational assistance means financial assistance that is disbursed or delivered to an institution or on behalf of a student or to a student to be used to attend the institution provided under any of the following provisions of law: (i) This title. (ii) Chapter 30, 31, 32, 33, 34, or 35 of title 38, United States Code, except that such term shall not include any monthly housing or book stipend provided under the Post-9/11 Veterans Educational Assistance Program under chapter 33 of title 38, United States Code. (iii) Chapter 101, 105, 106A, 1606, 1607, or 1608 of title 10, United States Code. (iv) Section 1784a of title 10, United States Code. (v) Any other educational assistance programs administered by the Department of Veterans Affairs, Department of Defense, or any other agency that directs funds to students who are members of the Armed Forces or veterans. . (b) Effective date The amendment made under subsection (a) shall take effect with respect to a proprietary institution of higher education beginning with the 2022 institutional fiscal year. (c) Conforming amendments Section 487(d) of the Higher Education Act of 1965 ( 20 U.S.C. 1094(d) ) is amended— (1) in the subsection heading, by striking non title IV and inserting federal educational assistance