Segal AmeriCorps Education Award Tax Relief Act of 2019

Segal AmeriCorps Education Award Tax Relief Act of 2019

This bill modifies the requirements for calculating taxable income to exclude from gross income any AmeriCorps educational awards provided under the National and Community Service Act of 1990.

[Congressional Bills 116th Congress]
[From the U.S. Government Publishing Office]
[S. 1355 Introduced in Senate (IS)]

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116th CONGRESS
  1st Session
                                S. 1355

To amend the Internal Revenue Code of 1986 to provide an exclusion from 
            gross income for AmeriCorps educational awards.


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                   IN THE SENATE OF THE UNITED STATES

                              May 7, 2019

   Mr. Bennet (for himself, Mr. Isakson, Mr. Blunt, Ms. Collins, Mr. 
 Coons, Ms. Cortez Masto, Mr. Merkley, Mr. Portman, Mrs. Shaheen, and 
  Mr. Wicker) introduced the following bill; which was read twice and 
                  referred to the Committee on Finance

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                                 A BILL


 
To amend the Internal Revenue Code of 1986 to provide an exclusion from 
            gross income for AmeriCorps educational awards.

    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 ``Segal AmeriCorps Education Award Tax 
Relief Act of 2019''.

SEC. 2. EXCLUSION FROM GROSS INCOME OF AMERICORPS EDUCATIONAL AWARDS.

    (a) In General.--Paragraph (2) of section 117(c) of the Internal 
Revenue Code of 1986 is amended by striking ``or'' at the end of 
subparagraph (B), by striking the period at the end of subparagraph (C) 
and inserting ``, or'', and by adding at the end the following new 
subparagraph:
                    ``(D) a national service educational award under 
                subtitle D of title I of the National and Community 
                Service Act of 1990.''.
    (b) Exclusion of Discharge of Student Loan Debt.--Subsection (f) of 
section 108 of such Code is amended by adding at the end the following 
new paragraph:
            ``(6) Payments under national service educational award 
        programs.--In the case of an individual, gross income shall not 
        include any amount received under a national service 
        educational award under subtitle D of title I of the National 
        and Community Service Act of 1990 (42 U.S.C. 12601 et seq.).''.
    (c) Effective Date.--The amendments made by this section shall 
apply to taxable years ending after the date of the enactment of this 
Act.
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