S 1973
114th Congress
Senate
Taxation
Higher education
Income tax deductions
Interest, dividends, interest rates
Student aid and college costs
A bill to amend the Internal Revenue Code of 1986 to expand the deduction for interest on education loans, to extend and expand the deduction for qualified tuition and related expenses, and eliminate the limitation on contributions to Coverdell education savings accounts.
Everywhere this bill has been
2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Aug 5, 2015
Read twice and referred to the Committee on Finance.
Aug 5, 2015
Introduced in Senate
Plain-English summary
Amends the Internal Revenue Code to: (1) allow an unlimited tax deduction for student loan interest, (2) repeal the dollar limitation on the tax deduction for qualified tuition and related expenses and make such deduction permanent; (3) allow a carryover to succeeding taxable years of amounts of the deduction for qualified tuition and related expenses that exceed a taxpayer's taxable income; and (4) repeal the dollar limitation on contributions to a Coverdell Education Savings Account.
What's happening now
Read twice and referred to the Committee on Finance.
Committees of jurisdiction
1