S 2191 114th Congress Senate

PARTNERSHIPS Act

Official title: A bill to establish Federal-State higher education financing partnerships to drive down the cost of tuition for millions of American students.

Introduced: October 21, 2015 Introduced by: Wyden, Ron Democratic · Oregon See on congress.gov

Education Education of the disadvantagedEducation programs fundingHigher educationIncome tax credits

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Income tax exclusionStudent aid and college costsTax-exempt organizations

Everywhere this bill has been 2 steps

Introduced

In committee

Reported out

Passed House

Passed Senate

To President

Became law

Oct 21, 2015

Read twice and referred to the Committee on Finance.

Oct 21, 2015

Introduced in Senate

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Latest action October 21, 2015

Read twice and referred to the Committee on Finance.

Plain-English summary Congressional Research Service

Promoting Access and Retention Through New Efforts to Require Shared Higher Investments in Postsecondary Success Act or the PARTNERSHIPS Act

This bill amends the Higher Education Act of 1965 to establish a state-federal partnership to promote state investment in public higher education. The bill directs the Department of Education to award annual block grants to states that increase public higher education operating support on a per student basis, using a specified formula. As a condition of receiving grants, states must use grant funds to reduce tuition costs and support the enrollment of low-income students in state public educational institutions.

The bill amends the Internal Revenue Code to: (1) expand and make permanent the American Opportunity Tax Credit; (2) increase the amount of the tax exclusion for employer-provided educational assistance programs and make such exclusion available to the spouses and dependents of employees; (3) allow tax exclusions for the discharge of certain public interest student loans, repayments of student loans by tax-exempt organizations, and student loans subject to an income-based or income contingent repayment plan; (4) allow a full exclusion from gross income of Federal Pell Grants; and (5) repeal the requirement that distributions from a qualified tuition plan (529 plan) be aggregated for purposes of determining the amount includible in taxpayer income.

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Bill text 1 version