S. 4903 · 116th Congress
Reigniting Opportunity for Innovators Act
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Never voted on. It didn't reach a floor vote before the 116th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
D
HassanSponsorNo cosponsors.
This bill makes qualified founders and full-time employees of small business start-ups eligible to defer payments on their Federal Direct Loans for up to three years.
What it does: CRS summary · Introduced in Senate · Nov 17, 2020
Reigniting Opportunity for Innovators Act
This bill makes qualified founders and full-time employees of small business start-ups eligible to defer payments on their Federal Direct Loans for up to three years.
If the start-up is located in an economically distressed area, qualified founders and employees are also eligible for loan cancellation of up to $20,000.
The bill also excludes from an individual's gross income, for tax purposes, the amount of such canceled student loan debt.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Reigniting Opportunity for Innovators Act
Latest action (Nov 17, 2020): Read twice and referred to the Committee on Finance.
Policy area: Education · Origin: Senate · Introduced: Nov 17, 2020
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.