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United States · Bill · HR

H.R. 2649 (100th)

A bill to amend the Internal Revenue Code of 1986 to restore the prior law exclusion for scholarships and fellowships and to restore the deduction for interest on educational loans.

referredUnited States· United States Congress· EN

Introduced

10 June 1987

Last action

25 May 1988 · Referred

Status

Referred to Subcommittee on Select Revenue Measures.

Sponsors

Rep. Lancaster, H. Martin [D-NC-3], Rep. Price, David E. [D-NC-4], Rep. Slattery, Jim [D-KS-2], Rep. Solarz, Stephen J. [D-NY-13], Rep. Hefner, W. G. (Bill) [D-NC-8], Rep. Davis, Jack [R-IL-4], Rep. Penny, Timothy J. [D-MN-1], Rep. Roe, Robert A. [D-NJ-8], Rep. Smith, Lawrence [D-FL-16], Rep. Bentley, Helen Delich [R-MD-2], Rep. Lipinski, William O. [D-IL-3], Rep. Martinez, Matthew G. [D-CA-31], Rep. Neal, Stephen L. [D-NC-5], Rep. Towns, Edolphus [D-NY-10], Rep. Wise, Robert E., Jr. [D-WV-2], Rep. DeFazio, Peter A. [D-OR-4], Rep. Lewis, John [D-GA-5], Rep. Kolter, Joseph P. [D-PA-4], Rep. Horton, Frank J. [R-NY-29], Rep. Feighan, Edward F. [D-OH-19], Rep. Kennedy, Joseph P., II [D-MA-8], Rep. Ford, William D. [D-MI-13], Rep. Edwards, Mickey [R-OK-5], Rep. Evans, Lane [D-IL-17], Rep. Stokes, Louis [D-OH-11], Rep. Scheuer, James H. [D-NY-8], Rep. Porter, John Edward [R-IL-10], Rep. Valentine, Tim [D-NC-2], Rep. Rahall, Nick J., II [D-WV-3], Rep. Rangel, Charles B. [D-NY-15], Rep. Mfume, Kweisi [D-MD-7], Rep. Conyers, John, Jr. [D-MI-13], Rep. Biaggi, Mario [D-NY-19], Rep. Buechner, Jack [R-MO-2], Sen. Craig, Larry E. [R-ID], Rep. Clarke, James McC. [D-NC-11], Rep. Owens, Major R. [D-NY-11], Rep. Darden, George (Buddy) [D-GA-7], Rep. Nielson, Howard C. [R-UT-3], Rep. Moakley, John Joseph [D-MA-9], Rep. Foglietta, Thomas M. [D-PA-1], Rep. Lantos, Tom [D-CA-12], Rep. Yatron, Gus [D-PA-6], Rep. Studds, Gerry E. [D-MA-10], Rep. Lent, Norman F. [R-NY-4], Rep. Bilbray, James H. [D-NV-1], Sen. Johnson, Tim [D-SD], Rep. Hayes, Charles A. [D-IL-1]

Subjects

Taxation

Source updated

7 February 2024

Taxation

Official sourceView documentsShare

Summary

Repeals specified provisions of the Tax Reform Act of 1986 that restrict the types of scholarships and fellowship grants that may be excluded from gross income for income tax purposes. States that the Internal Revenue Code of 1986 (IRC) shall be applied and administered as if such provisions had not been enacted. Amends the IRC to allow an income tax deduction for interest on a qualified educational loan incurred to pay the educational expenses of the taxpayer, spouse, or dependent. Eliminates the current requirement that such indebtedness be secured by an interest in real property.

This text is taken from the official record. PoliticalRepo does not editorialize.

Timeline

  1. 10 June 1987

    Introduced

    Referred to House Committee on Ways and Means.

    Source: IntroReferral

  2. 10 June 1987

    Introduced

    Introduced in House

    Source: IntroReferral

  3. 10 June 1987

    Introduced

    Introduced in House

    Source: IntroReferral

  4. 25 May 1988

    Referred

    Referred to Subcommittee on Select Revenue Measures.

    Source: Committee

Votes

No vote records are attached yet.

Versions

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Documents

1 official file

Leesvertaling

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Sponsors

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Related records

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Sources

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