No, I don't think it is a clear cut as that yet. And I don't think it will be until 180 days after the act is signed into law.

There will be other people who have met the requirements already (college and under 16 at arrival), but might have aged out, and the DHS might allow for certain considerations, similar to what happens when someone is getting sponsored for PERM/I-485. If their child turns 21 before a visa number is available, but after I-130 is filled, then an extension is allowed.

Something similar might be put in place for people who are already 30-35 and have met the other requirements, but this wouldn't apply to people who haven't yet turned 30 but will not meet the requirements by then, or something like that. I mean I have no idea, you'll have to wait and see.

But one thing is certain, if this fails now, they will never increase the age cap back to 35, and by the time this gets considered again you'll be 40 anyway.