[Congressional Bills 104th Congress]
[From the U.S. Government Publishing Office]
[S. 1162 Introduced in Senate (IS)]







104th CONGRESS
  1st Session
                                S. 1162

  To amend the Internal Revenue Code of 1986 to treat academic health 
    centers like other educational institutions for purposes of the 
                exclusion for employer-provided housing.


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                   IN THE SENATE OF THE UNITED STATES

               August 10 (legislative day, July 10), 1995

  Mr. Moynihan (for himself and Mr. D'Amato) introduced the following 
  bill; which was read twice and referred to the Committee on Finance

_______________________________________________________________________

                                 A BILL


 
  To amend the Internal Revenue Code of 1986 to treat academic health 
    centers like other educational institutions for purposes of the 
                exclusion for employer-provided housing.
    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,
SECTION 1. TREATMENT OF HOUSING PROVIDED TO EMPLOYEES BY ACADEMIC 
              HEALTH CENTERS.

    (a) In General.--Paragraph (4) of section 119(d) of the Internal 
Revenue Code of 1986 (relating to lodging furnished by certain 
educational institutions to employees) is amended to read as follows:
            ``(4) Educational institution.--For purposes of this 
        subsection--
                    ``(A) In general.--The term `educational 
                institution' means--
                            ``(i) an institution described in section 
                        170(b)(1)(A)(ii), or
                            ``(ii) an academic health center.
                    ``(B) Academic health center.--For purposes of 
                subparagraph (A), the term `academic health center' 
                means an entity--
                            ``(i) which is described in section 
                        170(b)(1)(A)(iii),
                            ``(ii) which receives (during the calendar 
                        year in which the taxable year of the taxpayer 
                        begins) payments under subsection (d)(5)(B) or 
                        (h) of section 1886 of the Social Security Act 
                        (relating to graduate medical education), and
                            ``(iii) which has as one of its principal 
                        purposes or functions the providing and 
                        teaching of basic and clinical medical science 
                        and research with the entity's own faculty.''
    (b) Effective Date.--The amendment made by this section shall apply 
to taxable years beginning after December 31, 1994.
                                 <all>