S 558
99th Congress
Senate
Taxation
Cost of living adjustments
Economics and Public Finance
Education
Employee benefit plans
Income tax
Inflation
Labor and Employment
Student aid
Tax exclusion
Employee Educational Assistance Act of 1985
Introduced: February 28, 1985
See on congress.gov
Everywhere this bill has been
3 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Mar 5, 1985
Committee on Finance requested executive comment from OMB, Treasury Department, Education Department.
Feb 28, 1985
Read twice and referred to the Committee on Finance.
Feb 28, 1985
Introduced in Senate
Plain-English summary
Employee Educational Assistance Act of 1985 - Amends the Internal Revenue Code to extend indefinitely the income tax exclusion for employee educational assistance programs. (Present law terminates such exclusion as of December 31, 1985.)
Limits the maximum amount of such exclusion (beginning in 1986) to $5,000 of amounts paid or expenses incurred for educational assistance furnished to an employee during a calendar year. Exempts graduate students engaged in teaching or research activities from such maximum limit. Provides for annual cost-of-living adjustments in such maximum limit beginning in 1987.
What's happening now
Committee on Finance requested executive comment from OMB, Treasury Department, Education Department.
Committees of jurisdiction
1
Cosponsors
1