3.0.0 615 2023-01-11T13:34:19Z 2023-01-11T13:34:19Z House HR 2017-01-23 115 [Congressional Record Volume 163, Number 12 (Monday, January 23, 2017)]From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]By Mr. ROSS:H.R. 615.Congress has the power to enact this legislation pursuantto the following:Art. I, Sec. 8, Clause 1.[Page H609]]]> hswm00 Ways and Means Committee House Standing Referred to 2017-01-23T17:02:05Z 2017-01-23 Referred to the House Committee on Ways and Means. IntroReferral H11100 2 House floor actions hswm00 Ways and Means Committee 2017-01-23 Introduced in House IntroReferral Intro-H 9 Library of Congress 2017-01-23 Introduced in House IntroReferral 1000 9 Library of Congress R000593 Rep. Ross, Dennis A. [R-FL-15] Dennis Ross R FL A. 15 N Taxation Employee benefits and pensions Higher education Income tax credits Student aid and college costs Wages and earnings Taxation 00 2017-01-23 Introduced in House 2017-02-06T17:40:42Z Student Loan Repayment Act of 2017

This bill amends the Internal Revenue Code to allow a work opportunity tax credit for employers who hire a qualified student loan repayer. A "qualified student loan repayer" is any individual who is certified by the designated local agency as: (1) having at least an associate's degree, and (2) having outstanding education loans of at least $10,000.

The bill also allows a business tax credit equal to 50% of the student loan program startup costs paid by employers during the year, subject to a limit of $500 per employee participating in the program. The credit applies to the ordinary and necessary expenses for the establishment or administration of a student loan repayment plan through which the employer provides specified annual matching contributions to each employee. The credit does not apply to payments made to, or on behalf of, any employee pursuant to the plan. An employer may claim the credit for three years if the employer has not established or maintained a plan for substantially the same employees during the three-year period immediately preceding the first year in which the credit is otherwise allowable.

]]> Student Loan Repayment Act of 2017 Display Title Student Loan Repayment Act of 2017 Official Title as Introduced To amend the Internal Revenue Code of 1986 to include student loan repayers as members of targeted groups for purposes of the work opportunity credit and to provide for a credit against tax for student loan program startup costs. Introduced in House IH Short Titles as Introduced Student Loan Repayment Act of 2017 Introduced in House 2017-01-23T05:00:00Z https://www.govinfo.gov/content/pkg/BILLS-115hr615ih/xml/BILLS-115hr615ih.xml 2017-01-23 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.