Skip to content
PoliticalRepoPoliticalRepo

United States · Bill · HR

H.R. 488 (101st)

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

4 January 1989

Last action

4 January 1989 · Introduced

Status

Referred to the House Committee on Ways and Means.

Sponsors

Rep. Price, David E. [D-NC-4], Rep. Lancaster, H. Martin [D-NC-3], Rep. Kennedy, Joseph P., II [D-MA-8], Rep. Neal, Stephen L. [D-NC-5], Rep. Towns, Edolphus [D-NY-10], Rep. Wise, Robert E., Jr. [D-WV-2], Rep. Stokes, Louis [D-OH-11], Rep. Scheuer, James H. [D-NY-8], Rep. Valentine, Tim [D-NC-2], Rep. Smith, Lawrence [D-FL-16], Rep. Feighan, Edward F. [D-OH-19], 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. Penny, Timothy J. [D-MN-1], Rep. Lewis, John [D-GA-5], Rep. Slattery, Jim [D-KS-2], Rep. Buechner, Jack [R-MO-2], Rep. Clarke, James McC. [D-NC-11], Rep. Lent, Norman F. [R-NY-4], Sen. Johnson, Tim [D-SD], Rep. Yatron, Gus [D-PA-6], Rep. Horton, Frank J. [R-NY-29], Rep. Robinson, Tommy F. [D-AR-2], Rep. Jontz, Jim [D-IN-5], Rep. Hertel, Dennis M. [D-MI-14], Rep. Saiki, Patricia [R-HI-1], Rep. Hughes, William J. [D-NJ-2], Rep. Hefner, W. G. (Bill) [D-NC-8], Rep. Smith, Larkin [R-MS-5], Rep. Kastenmeier, Robert W. [D-WI-2], Rep. Mavroules, Nicholas [D-MA-6], Rep. Walgren, Doug [D-PA-18], Rep. Walsh, James T. [R-NY-25], Rep. Glickman, Dan [D-KS-4], Sen. Craig, Larry E. [R-ID], Rep. Gejdenson, Sam [D-CT-2], Rep. Levine, Mel [D-CA-27], Sen. Campbell, Ben Nighthorse [R-CO], Rep. Ridge, Thomas J. [R-PA-21], Rep. Brennan, Joseph E. [D-ME-1], Rep. Chapman, Jim [D-TX-1], Rep. Foglietta, Thomas M. [D-PA-1], Rep. Bevill, Tom [D-AL-4], Rep. Bilbray, James H. [D-NV-1], Rep. Kaptur, Marcy [D-OH-9], Rep. Bliley, Tom [R-VA-7]

Subjects

Taxation

Source updated

7 February 2024

Taxation

Official sourceDownload fileView documentsShare

Summary

Repeals 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. Amends the Internal Revenue Code 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. 4 January 1989

    Introduced

    Referred to the House Committee on Ways and Means.

    Source: IntroReferral

  2. 4 January 1989

    Introduced

    Introduced in House

    Source: IntroReferral

  3. 4 January 1989

    Introduced

    Introduced in House

    Source: IntroReferral

Votes

No vote records are attached yet.

Versions

Documents

2 official files

Introduced in House (text)

View fileDownload file

This file cannot be previewed here. Use View or Download.

Leesvertaling

Vertaal dit document naar jouw taal. PoliticalRepo bewaart geen aparte kopie per EU-taal.

Documentvertaling op verzoek met downloadbare PDF (logo + link naar de officiële bron). Het bronbestand blijft leidend.

  • Introduced in House (text)

    Introduced in House · EN

    ViewDownloadOpen at official source

  • Introduced in House

    summary · EN · 4 January 1989

    Open at official source

    Leesvertaling

    Vertaal dit document naar jouw taal. PoliticalRepo bewaart geen aparte kopie per EU-taal.

    Documentvertaling op verzoek met downloadbare PDF (logo + link naar de officiële bron). Het bronbestand blijft leidend.

Sponsors

Showing 48 of 58 sponsors and actors.

Related records

No cross-record relationships stored yet.

Sources

PoliticalRepo is an index and interpretation layer, not the authoritative legal source.