3.0.0 5382 2023-01-11T13:32:50Z 2023-01-11T13:32:50Z House HR 2016-06-03 114 [Congressional Record Volume 162, Number 87 (Friday, June 3, 2016)]From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]By Mr. ISRAEL:H.R. 5382.Congress has the power to enact this legislation pursuantto the following:Article I, Section 8, Clause 3 of the United StatesConstitution[Page H3462]]]> hswm00 Ways and Means Committee House Standing Referred to 2016-06-03T20:30:28Z Student Loan Repayment Assistance Act of 2015 114 1713 HR 2015-03-26 Referred to the House Committee on Ways and Means. Related bill CRS 2016-06-03 Referred to the House Committee on Ways and Means. IntroReferral H11100 2 House floor actions hswm00 Ways and Means Committee 2016-06-03 Introduced in House IntroReferral Intro-H 9 Library of Congress 2016-06-03 Introduced in House IntroReferral 1000 9 Library of Congress I000057 Rep. Israel, Steve [D-NY-3] STEVE ISRAEL D NY 3 N Taxation Employee benefits and pensions Higher education Income tax exclusion Student aid and college costs Taxation 00 2016-06-03 Introduced in House 2016-08-31T13:15:30Z Student Loan Employment Benefits Act of 2016

This bill amends the Internal Revenue Code to exclude from the gross income of an employee up to $5000 per year of the amounts paid by an employer under a student loan payment assistance program.

The student loan payment assistance program must be a separate written plan of an employer to provide employees with student loan payment assistance which meets specified requirements.

The bill defines "student loan payment assistance" as the payment of principal or interest on any indebtedness incurred by an employee solely to pay qualified higher education expenses which are paid or incurred within a reasonable time before or after such indebtedness was incurred and are attributable to education furnished during a period in which such employee was a student eligible for federal financial assistance. "Student loan payment assistance" also includes the payment of principal or interest on debt used to refinance the debt described above.

]]> Student Loan Employment Benefits Act of 2016 Display Title Student Loan Employment Benefits Act of 2016 Official Title as Introduced To amend the Internal Revenue Code of 1986 to exclude from gross income amounts paid by an employer on an employee's student loans. Introduced in House IH Short Titles as Introduced Student Loan Employment Benefits Act of 2016 Introduced in House 2016-06-03T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-114hr5382ih/xml/BILLS-114hr5382ih.xml 2016-06-03 Referred to the House Committee on Ways and Means. text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. Congressional Research Service, Library of Congress This file contains bill summaries and statuses for federal legislation. A bill summary describes the most significant provisions of a piece of legislation and details the effects the legislative text may have on current law and federal programs. Bill summaries are authored by the Congressional Research Service (CRS) of the Library of Congress. As stated in Public Law 91-510 (2 USC 166 (d)(6)), one of the duties of CRS is "to prepare summaries and digests of bills and resolutions of a public general nature introduced in the Senate or House of Representatives". For more information, refer to the User Guide that accompanies this file.