H.R. 5382 · 114th Congress
Student Loan Employment Benefits Act of 2016
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Never voted on. It didn't reach a floor vote before the 114th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
D
IsraelSponsorNo cosponsors.
This bill amends the Internal Revenue Code to exclude from the gross income of an employee up to $5000 per year of the amounts paid by an employer under a student loan payment assistance program.
What it does: CRS summary · Introduced in House · Jun 3, 2016
Student Loan Employment Benefits Act of 2016
This bill amends the Internal Revenue Code to exclude from the gross income of an employee up to $5000 per year of the amounts paid by an employer under a student loan payment assistance program.
The student loan payment assistance program must be a separate written plan of an employer to provide employees with student loan payment assistance which meets specified requirements.
The bill defines "student loan payment assistance" as the payment of principal or interest on any indebtedness incurred by an employee solely to pay qualified higher education expenses which are paid or incurred within a reasonable time before or after such indebtedness was incurred and are attributable to education furnished during a period in which such employee was a student eligible for federal financial assistance. "Student loan payment assistance" also includes the payment of principal or interest on debt used to refinance the debt described above.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Student Loan Employment Benefits Act of 2016
Latest action (Jun 3, 2016): Referred to the House Committee on Ways and Means.
Policy area: Taxation · Origin: House · Introduced: Jun 3, 2016
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.