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HR 5730 114th Congress House Taxation Higher education Income tax exclusion Inflation and prices Research administration and funding Student aid and college costs

Fair Treatment of Scholarships Act of 2016

Introduced: July 12, 2016 See on congress.gov
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 Everywhere this bill has been 2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Jul 12, 2016
Referred to the House Committee on Ways and Means.
Jul 12, 2016
Introduced in House
 Plain-English summary Congressional Research Service

Fair Treatment of Scholarships Act of 2016

This bill amends the Internal Revenue Code to modify the provision which excludes from the gross income of a student any amount that is received as a qualified scholarship used for qualified tuition and related expenses.

The bill expands the exclusion to: (1) permit the scholarship to be used for room and board costs for which there is an allowance under the Higher Education Act of 1965; and (2) to specify that "qualified tuition and related expenses" include fees, books, supplies, and equipment required for research at the educational organization.

The amount included in qualified tuition and related expenses for research not required for a course of instruction may not exceed $300 per year, adjusted for inflation after 2016.

What's happening now July 12, 2016

Referred to the House Committee on Ways and Means.

 Committees of jurisdiction 1
 Cosponsors 1
All 1 Republican 1