Employer Participation in Student Loan Assistance Act

Employer Participation in Student Loan Assistance Act

This bill amends the Internal Revenue Code to extend the tax exclusion for employer-provided educational assistance to include payments of qualified education loans by an employer to either an employee or a lender.

[Congressional Bills 115th Congress]
[From the U.S. Government Publishing Office]
[H.R. 795 Introduced in House (IH)]

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115th CONGRESS
  1st Session
                                H. R. 795

To amend the Internal Revenue Code of 1986 to extend the exclusion for 
   employer-provided educational assistance to employer payments of 
                       qualified education loans.


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                    IN THE HOUSE OF REPRESENTATIVES

                            February 1, 2017

 Mr. Rodney Davis of Illinois (for himself, Mr. Peters, Ms. Stefanik, 
 Mr. Polis, Mr. MacArthur, Ms. Pingree, Mr. Crawford, Mr. Blumenauer, 
  Mr. Ellison, Mr. Vargas, Mr. Beyer, Mr. Swalwell of California, Mr. 
   Rouzer, Mr. Blum, Mr. Nolan, Mr. Young of Iowa, Mr. Bucshon, Mrs. 
Lawrence, Mr. Ted Lieu of California, Ms. Kuster of New Hampshire, Mr. 
 Himes, Mr. Costello of Pennsylvania, and Ms. Brownley of California) 
 introduced the following bill; which was referred to the Committee on 
                             Ways and Means

_______________________________________________________________________

                                 A BILL


 
To amend the Internal Revenue Code of 1986 to extend the exclusion for 
   employer-provided educational assistance to employer payments of 
                       qualified education loans.

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

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Employer Participation in Student 
Loan Assistance Act''.

SEC. 2. EXCLUSION FOR EMPLOYER PAYMENT OF QUALIFIED EDUCATION LOANS.

    (a) In General.--Section 127(c)(1) of the Internal Revenue Code of 
1986 is amended by striking ``and'' at the end of subparagraph (A), by 
redesignating subparagraph (B) as subparagraph (C), and by inserting 
after subparagraph (A) the following new subparagraph:
                    ``(B) the payment by an employer, whether paid to 
                the employee or to a lender, of principal or interest 
                on any qualified education loan (as defined in section 
                221(d)(1)) incurred by the employee, and''.
    (b) Denial of Double Benefit.--Section 221(e)(1) of such Code is 
amended by inserting before the period at the end the following: ``, or 
for any amount which is excludable from gross income under section 
127(c)(1)(B)''.
    (c) Effective Date.--The amendments made by this section shall 
apply to payments made by employers after December 31, 2017.
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