[Congressional Bills 106th Congress]
[From the U.S. Government Publishing Office]
[H.R. 1129 Introduced in House (IH)]







106th CONGRESS
  1st Session
                                H. R. 1129

   To amend the Internal Revenue Code of 1986 to repeal the 60-month 
limitation period on the allowance of a deduction of interest on loans 
                     for higher education expenses.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                             March 16, 1999

 Mrs. Mink of Hawaii introduced the following bill; which was referred 
                   to the Committee on Ways and Means

_______________________________________________________________________

                                 A BILL


 
   To amend the Internal Revenue Code of 1986 to repeal the 60-month 
limitation period on the allowance of a deduction of interest on loans 
                     for higher education expenses.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. REPEAL OF 60-MONTH LIMITATION PERIOD ON DEDUCTION OF 
              INTEREST ON HIGHER EDUCATION LOANS.

    (a) Limitation on Period Deduction Allowed.--Section 221 of the 
Internal Revenue Code of 1986 (relating to interest on education loans) 
is amended by striking subsection (d).
    (b) Effective Date.--The amendments made by this section shall 
apply to taxable years beginning after December 31, 1998.
                                 <all>