3.0.0 2191 2023-01-11T13:29:31Z 2023-01-11T13:29:31Z Senate S 2015-10-21 114 ssfi00 Finance Committee Senate Standing Referred to 2015-10-21T20:51:15Z Degrees Not Debt Act 114 5756 HR 2016-09-19 Referred to the Subcommittee on Higher Education and Workforce Training. Related bill CRS 2015-10-21 ssfi00 Finance Committee Senate Read twice and referred to the Committee on Finance. IntroReferral 2015-10-21 Introduced in Senate IntroReferral 10000 9 Library of Congress W000779 Sen. Wyden, Ron [D-OR] Ron Wyden D OR N M001176 Sen. Merkley, Jeff [D-OR] Jeff Merkley D OR 2015-10-21 True Education Education of the disadvantaged Education programs funding Higher education Income tax credits Income tax exclusion Student aid and college costs Tax-exempt organizations Education 00 2015-10-21 Introduced in Senate 2016-02-29T22:35:27Z Promoting Access and Retention Through New Efforts to Require Shared Higher Investments in Postsecondary Success Act or the PARTNERSHIPS Act

This bill amends the Higher Education Act of 1965 to establish a state-federal partnership to promote state investment in public higher education. The bill directs the Department of Education to award annual block grants to states that increase public higher education operating support on a per student basis, using a specified formula. As a condition of receiving grants, states must use grant funds to reduce tuition costs and support the enrollment of low-income students in state public educational institutions.

The bill amends the Internal Revenue Code to: (1) expand and make permanent the American Opportunity Tax Credit; (2) increase the amount of the tax exclusion for employer-provided educational assistance programs and make such exclusion available to the spouses and dependents of employees; (3) allow tax exclusions for the discharge of certain public interest student loans, repayments of student loans by tax-exempt organizations, and student loans subject to an income-based or income contingent repayment plan; (4) allow a full exclusion from gross income of Federal Pell Grants; and (5) repeal the requirement that distributions from a qualified tuition plan (529 plan) be aggregated for purposes of determining the amount includible in taxpayer income.

]]> PARTNERSHIPS Act Display Title PARTNERSHIPS Act Official Title as Introduced A bill to establish Federal-State higher education financing partnerships to drive down the cost of tuition for millions of American students. Introduced in Senate IS Short Titles as Introduced PARTNERSHIPS Act Short Titles as Introduced Promoting Access and Retention Through New Efforts to Require Shared Higher Investments in Postsecondary Success Act Introduced in Senate 2015-10-21T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-114s2191is/xml/BILLS-114s2191is.xml 2015-10-21 Read twice and referred to the Committee on Finance. 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.