S 676
116th Congress
Senate
Taxation
Congressional oversight
Economic development
Government studies and investigations
Higher education
Income tax exclusion
Social work, volunteer service, charitable organizations
Student aid and college costs
Tax-exempt organizations
Workforce Development Through Post-Graduation Scholarships Act of 2019
Everywhere this bill has been
2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Mar 6, 2019
Read twice and referred to the Committee on Finance.
Mar 6, 2019
Introduced in Senate
Plain-English summary
Workforce Development Through Post-Graduation Scholarships Act of 2019
This bill modifies the requirements for calculating taxable income to exclude post-graduation scholarship grants from gross income in the same manner as scholarships are currently excluded.
A "post-graduation scholarship grant" is a grant provided by a program that
- is established by certain tax-exempt organizations;
- requires the grantee to live and work in an applicable community that meets certain requirements regarding income, out-migration, and bachelor's degree attainment rates; and
- under which, in accordance with the conditions of a grant, the organization repays any portion of an education loan incurred by an individual to pay higher education expenses.
In implementing this bill, the Department of the Treasury must prescribe specified regulations and meet reporting requirements. The Government Accountability Office must report on the post-graduation scholarship grants covered by this bill.
What's happening now
Read twice and referred to the Committee on Finance.
Committees of jurisdiction
1
Cosponsors
1