In committee (Senate), as of May 17, 2022
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This is from the published bill. The Library of Parliament often publishes better independent summaries.
This enactment provides for the development of a proposal for federal initiatives designed to ensure the financial stability of post-secondary institutions. It also amends the Bankruptcy and Insolvency Act and the Companies’ Creditors Arrangement Act to exclude post-secondary educational institutions from the definitions of corporation and company under those Acts, respectively.
All sorts of information on this bill is available at LEGISinfo, an excellent resource from the Library of Parliament. You can also read the full text of the bill.