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A bill to amend the Internal Revenue Code of 1986 to exclude certain post graduation scholarship grants from gross income in the same manner as qualified scholarships to promote economic growth.

USA115th CongressS-3697| Senate 
| Updated: 11/29/2018
Gary C. Peters

Gary C. Peters

Democratic Senator

Michigan

Cosponsors (1)
Shelley Moore Capito (Republican)

Finance Committee

  • Introduced
  • In Committee
  • On Floor
  • Passed Chamber
  • Enacted
Workforce Development Through Post-Graduation Scholarships Act of 2018 This bill amends the Internal Revenue Code 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.
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Timeline
Jul 24, 2018

Latest Companion Bill Action

HR 115-6486
Introduced in House
Nov 29, 2018
Introduced in Senate
Nov 29, 2018
Read twice and referred to the Committee on Finance.
  • July 24, 2018

    Latest Companion Bill Action

    HR 115-6486
    Introduced in House


  • November 29, 2018
    Introduced in Senate


  • November 29, 2018
    Read twice and referred to the Committee on Finance.

Taxation

Related Bills

  • HR 115-6486: To amend the Internal Revenue Code of 1986 to exclude certain post graduation scholarship grants from gross income in the same manner as qualified scholarships to promote economic growth.
Congressional oversightEconomic developmentGovernment studies and investigationsHigher educationIncome tax exclusionMedical educationStudent aid and college costsTax-exempt organizations

A bill to amend the Internal Revenue Code of 1986 to exclude certain post graduation scholarship grants from gross income in the same manner as qualified scholarships to promote economic growth.

USA115th CongressS-3697| Senate 
| Updated: 11/29/2018
Workforce Development Through Post-Graduation Scholarships Act of 2018 This bill amends the Internal Revenue Code 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.
View Full Text

Suggested Questions

Get AI-generated questions to help you understand this bill better

Timeline
Jul 24, 2018

Latest Companion Bill Action

HR 115-6486
Introduced in House
Nov 29, 2018
Introduced in Senate
Nov 29, 2018
Read twice and referred to the Committee on Finance.
  • July 24, 2018

    Latest Companion Bill Action

    HR 115-6486
    Introduced in House


  • November 29, 2018
    Introduced in Senate


  • November 29, 2018
    Read twice and referred to the Committee on Finance.
Gary C. Peters

Gary C. Peters

Democratic Senator

Michigan

Cosponsors (1)
Shelley Moore Capito (Republican)

Finance Committee

Taxation

Related Bills

  • HR 115-6486: To amend the Internal Revenue Code of 1986 to exclude certain post graduation scholarship grants from gross income in the same manner as qualified scholarships to promote economic growth.
  • Introduced
  • In Committee
  • On Floor
  • Passed Chamber
  • Enacted
Congressional oversightEconomic developmentGovernment studies and investigationsHigher educationIncome tax exclusionMedical educationStudent aid and college costsTax-exempt organizations