A bill to amend the Internal Revenue code of 1986 to provide for student loan forgiveness tax parity.

Amends the Internal Revenue Code to exclude from gross income payments made by a Federal agency to discharge a student loan when such discharge was a recruiting and/or retention incentive offered to highly qualified personnel.

[Congressional Bills 107th Congress]
[From the U.S. Government Publishing Office]
[S. 1817 Introduced in Senate (IS)]







107th CONGRESS
  1st Session
                                S. 1817

To amend the Internal Revenue Code of 1986 to provide for student loan 
                        forgiveness tax parity.


_______________________________________________________________________


                   IN THE SENATE OF THE UNITED STATES

                           December 13, 2001

 Mr. Voinovich (for himself and Mr. Thompson) introduced the following 
  bill; which was read twice and referred to the Committee on Finance

_______________________________________________________________________

                                 A BILL


 
To amend the Internal Revenue Code of 1986 to provide for student loan 
                        forgiveness tax parity.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. STUDENT LOAN FORGIVENESS TAX PARITY.

    (a) In General.--Section 108(f)(1) of the Internal Revenue Code of 
1986 (relating to student loans) is amended by inserting ``or pursuant 
to section 5379 of title 5, United States Code'' after ``class of 
employers''.
    (b) Effective Date.--The amendment made by this section shall apply 
to discharges of indebtedness made on or after the date of enactment of 
this Act.
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