3.0.0 4903 2023-01-11T13:44:10Z 2023-01-11T13:44:10Z Senate S 2020-11-17 116 ssfi00 Finance Committee Senate Standing Referred to 2020-11-17T21:10:39Z 2020-11-17 ssfi00 Finance Committee Senate Read twice and referred to the Committee on Finance. IntroReferral 2020-11-17 Introduced in Senate IntroReferral 10000 9 Library of Congress H001076 Sen. Hassan, Margaret Wood [D-NH] Maggie Hassan D NH N Education Education 00 2020-11-17 Introduced in Senate 2020-12-31T17:11:07Z Reigniting Opportunity for Innovators Act

This bill makes qualified founders and full-time employees of small business start-ups eligible to defer payments on their Federal Direct Loans for up to three years.

If the start-up is located in an economically distressed area, qualified founders and employees are also eligible for loan cancellation of up to $20,000.

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

]]> Reigniting Opportunity for Innovators Act Display Title Reigniting Opportunity for Innovators Act Short Title(s) as Introduced Reigniting Opportunity for Innovators Act Introduced in Senate IS Official Title as Introduced A bill to amend the Higher Education Act of 1965 to encourage entrepreneurship by providing loan deferment and loan cancellation for founders and employees of small business startups, and for other purposes. Introduced in Senate IS Introduced in Senate 2020-11-17T05:00:00Z https://www.govinfo.gov/content/pkg/BILLS-116s4903is/xml/BILLS-116s4903is.xml 2020-11-17 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.