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H.R. 5617 · 114th Congress

Underwater Student Borrowers Act

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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.

MPD PocanSponsor
20 cosponsors · 20 D

This bill amends the Internal Revenue Code, with respect to the exclusion from gross income of income attributable to the discharge of student loan indebtedness, to: (1) include indebtedness discharged due to income-contingent and income-based repayment plans, the death or disability of the borrower, or the closing of an educational institution; and (2)…

What it does: CRS summary · Introduced in House · Jul 1, 2016

Underwater Student Borrowers Act

This bill amends the Internal Revenue Code, with respect to the exclusion from gross income of income attributable to the discharge of student loan indebtedness, to: (1) include indebtedness discharged due to income-contingent and income-based repayment plans, the death or disability of the borrower, or the closing of an educational institution; and (2) revise the definition of "student loan" to mean a loan made by any lender, including a loan for the refinancing of an existing loan.

Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov

About this bill and sources

Official title: Underwater Student Borrowers Act

Latest action (Jul 1, 2016): Referred to the House Committee on Ways and Means.

Policy area: Taxation · Origin: House · Introduced: Jul 1, 2016

Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)

No recorded floor vote found.