This legislation aims to prevent federal funds allocated to the District of Columbia for resident tuition support from carrying over into subsequent fiscal years if they remain unobligated. Specifically, any portion of a federal payment for the District of Columbia's tuition support program that is not obligated by the end of a fiscal year will lapse and become unavailable. The bill makes conforming amendments to the District of Columbia College Access Act of 1999, striking language that previously allowed such funds to remain available until expended for both public and private school programs. These changes are retroactive, applying to funds appropriated for fiscal year 2016 and all subsequent fiscal years. Furthermore, it mandates that the Chief Financial Officer of the District of Columbia submit an annual report to Congress detailing the use of these payments, including the number of students assisted, average financial aid, and any unobligated amounts.