S 405 115th Congress Senate Taxation Disability and paralysis Higher education Income tax exclusion Student aid and college costs

Stop Taxing Death and Disability Act

Introduced: February 16, 2017 Introduced by: Coons, Christopher A. Democratic · Delaware See on congress.gov

Everywhere this bill has been 2 steps

Introduced

In committee

Reported out

Passed House

Passed Senate

To President

Became law

Feb 16, 2017

Read twice and referred to the Committee on Finance.

Feb 16, 2017

Introduced in Senate

Plain-English summary Congressional Research Service

Stop Taxing Death and Disability Act

This bill amends the Internal Revenue Code to exclude from the gross income of an individual the discharge of student loans or private education loans due to the death or disability of the student.

The bill also amends the Higher Education Act of 1965 to require the Department of Education (ED) to discharge the liability on loans that parents received on behalf of a student who: (1) has become permanently and totally disabled, or (2) is unable to engage in any substantial gainful activity due to a physical or mental impairment that can be expected to result in death or has lasted or is expected to last continuously for at least 60 months. (Under current law, ED is required to discharge the loans to parents if the student dies.)

What's happening now February 16, 2017

Read twice and referred to the Committee on Finance.

Committees of jurisdiction 1