Today Councilmember David Catania (I-At Large) introduced the “D.C. Promise Establishment Act of 2013,” which would provide financial assistance to low-income D.C. students who want to continue their education beyond high school.

“The D.C. Promise is intended to encourage District students to pursue their educational goals by providing additional assistance for tuition and fees after other sources of financial aid have been exhausted,” a message on a website about the bill says. Grants would only be available to students who attended D.C. public or charter schools between at least 9th and 12th grades. The money could be used “at a variety of post-secondary institutions nationwide, including four year colleges, two year colleges, and accredited certificate programs.”

The size of the grant would be determined by household income and how long the student has been enrolled in a D.C. school, with the maximum award being $100,000. The legislation requires students to apply for federal financial aid, if they’re eligible. According to Fox5’s Matt Ackland, the plan would cost between $50 and $75 million a year.

“A fiscal analysis will be performed prior to any Council vote,” Catania’s chief of staff Ben Young said in an email. “It is an ambitious proposal that will require a significant commitment of resources. CM Catania believes that we should reinvest the dividends of our current fiscal prosperity into the education of our students and future taxpayers.”

The bill was co-introduced by Council Chair Phil Mendelson and Councilmembers Mary Cheh (Ward 3), Marion Barry (Ward 8), David Grosso (I-At Large), Yvette Alexander (D-Ward 7), Kenyan McDuffie (D-Ward 5), Jack Evans (D-Ward 2), Tommy Wells (D-Ward 6) and Anita Bonds (D-At Large).

Unlike a D.C. Tuition Assistance Grant, which is available to all students, D.C. Promise would only be available to low-income kids from the public school system.