3.0.0 231 2022-11-01T13:49:27Z 2022-11-01T13:49:27Z House HR 2019-01-03 116 [Congressional Record Volume 165, Number 1 (Thursday, January 3, 2019)][House][Pages H217-H218]From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]By Ms. VELAZQUEZ:H.R. 231.Congress has the power to enact this legislation pursuantto the following:[[Page H218]]Article I, Section 8, Clause 1The Congress shall have Power to . . . provide for the . .. general Welfare of the United States; . . .Article I, Section 8, Clause 3The Congress shall have Power . . . To regulate Commercewith foreign Nations, and among the several States, and withthe Indian Tribes.]]> hssm00 Small Business Committee House Standing Referred to 2019-01-03T16:27:10Z hswm00 Ways and Means Committee House Standing Referred to 2019-01-03T16:27:05Z hsed00 Education and the Workforce Committee House Standing Referred to 2019-01-03T16:27:00Z 2019-01-03 Referred to the Committee on Education and Labor, and in addition to the Committees on Ways and Means, and Small Business, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. IntroReferral H11100 2 House floor actions hssm00 Small Business Committee 2019-01-03 Referred to the Committee on Education and Labor, and in addition to the Committees on Ways and Means, and Small Business, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. IntroReferral H11100 2 House floor actions hswm00 Ways and Means Committee 2019-01-03 Referred to the Committee on Education and Labor, and in addition to the Committees on Ways and Means, and Small Business, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. IntroReferral H11100 2 House floor actions hsed00 Education and the Workforce Committee 2019-01-03 Introduced in House IntroReferral Intro-H 9 Library of Congress 2019-01-03 Introduced in House IntroReferral 1000 9 Library of Congress V000081 Rep. Velazquez, Nydia M. [D-NY-7] NYDIA VELAZQUEZ D NY M. 7 N S000248 Rep. Serrano, Jose E. [D-NY-15] JOSE SERRANO D NY E. 15 2019-01-03 True H001087 Rep. Hill, Katie [D-CA-25] Katie Hill D CA 25 2019-01-30 False H001085 Rep. Houlahan, Chrissy [D-PA-6] Chrissy Houlahan D PA 6 2019-04-30 False Education Minority and disadvantaged businesses Small business Student aid and college costs Education 00 2019-01-03 Introduced in House 2020-02-19T17:42:31Z Supporting America's Young Entrepreneurs Act of 2019

This bill makes eligible for deferment and cancelation of student loan debt a recent graduate of a four-year institution of higher education (IHE) who works at certain small business start-ups in distressed areas.

Specifically, it makes a student loan borrower who is an employee and founder of a start-up eligible for deferment and cancellation of student loans. In addition, the bill makes a full-time employee of a start-up eligible for cancelation of student loan debt.

It also excludes from an individual's gross income, for income tax purposes, the amount of such canceled student loan debt.

Finally, it establishes a young entrepreneurs business center within the Small Business Administration to certify small business start-ups, identify distressed areas, and approve loan cancellations. To be certified by the center, a start-up must (1) have a founder who is a recent graduate of a four-year IHE, and (2) employ a certain number of recent graduates.

]]> Supporting America’s Young Entrepreneurs Act of 2019 Display Title Supporting America’s Young Entrepreneurs Act of 2019 Official Title as Introduced To amend the Higher Education Act of 1965 to provide loan deferment and loan cancellation for founders and employees of small business start-ups, and for other purposes. Introduced in House IH Short Title(s) as Introduced Supporting America’s Young Entrepreneurs Act of 2019 Introduced in House IH Introduced in House 2019-01-03T05:00:00Z https://www.govinfo.gov/content/pkg/BILLS-116hr231ih/xml/BILLS-116hr231ih.xml 2019-01-03 Referred to the Committee on Education and Labor, and in addition to the Committees on Ways and Means, and Small Business, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. 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.