HELP for Students and Parents Act

Summary

Higher Education Loan Payments for Students and Parents Act or the HELP for Students and Parents Act This bill amends the Internal Revenue Code to expand the tax exclusion for employer-provided educational assistance programs to exclude from the gross income of an employee: (1) employer payments of principal or interest on loans for higher education expenses incurred by an employee, and (2) any qualified dependent 529 contributions made by the employer. (Under current law, the maximum exclusion for educational assistance programs is $5,250 per year.) A "qualified dependent 529 contribution" is any amount contributed by an employer to a qualified tuition program the designated beneficiary of which is an employee's child who: (1) has not attained the age of 19 at the time of the contribution, or (2) is a student who has not attained the age of 24 at the time of the contribution. The bill also allows a business tax credit for employer-provided higher education assistance, including: (1) 50% of the student loan repayment expenditures of the taxpayer for the year, and (2) 50% of the qualified dependent 529 contributions made by the taxpayer for the year. The amount taken into account for each expenditure with respect to any employee for any taxable year may not exceed $5,250.

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Timeline

1. 11 May 2016

   Introduced

   Introduced in House

   Source: IntroReferral

2. 11 May 2016

   Introduced

   Referred to the House Committee on Ways and Means.

   Source: IntroReferral

3. 11 May 2016

   Introduced

   Introduced in House

   Source: IntroReferral

Votes

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Versions

• Introduced in House · 11 May 2016 · Download file

Documents

3 official files

• Introduced in House (text)

  Introduced in House · EN · 11 May 2016

  ViewDownloadOpen at official source

• Introduced in House (PDF)

  Introduced in House · EN · 11 May 2016

  ViewDownloadOpen at official source

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• Introduced in House

  summary · EN · 11 May 2016

  Open at official source

  Leesvertaling

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

  Vertaal naarNL · DutchDE · GermanFR · FrenchES · SpanishIT · ItalianPL · PolishPT · PortugueseSV · SwedishDA · DanishFI · FinnishEL · GreekCS · CzechHU · HungarianRO · RomanianBG · BulgarianHR · CroatianSK · SlovakSL · SlovenianLT · LithuanianLV · LatvianET · EstonianGA · IrishMT · Maltese

  Vertaal document

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

Sponsors

• Rep. Dold, Robert J. [R-IL-10] · R · Sponsor
• Rep. Ryan, Tim [D-OH-13] · D · Cosponsor
• Rep. Carney, John C., Jr. [D-DE-At Large] · D · Cosponsor
• Rep. Hurd, Will [R-TX-23] · R · Cosponsor
• Rep. Gabbard, Tulsi [D-HI-2] · D · Cosponsor
• Rep. Boyle, Brendan F. [D-PA-2] · D · Cosponsor
• Rep. Meehan, Patrick [R-PA-7] · R · Cosponsor
• · hswm00 · Standing

Related records

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