[Congressional Bills 107th Congress]
[From the U.S. Government Publishing Office]
[H.R. 1401 Introduced in House (IH)]







107th CONGRESS
  1st Session
                                H. R. 1401

To amend the Internal Revenue Code of 1986 to exclude from gross income 
  loan payments received under the National Health Service Corps Loan 
    Repayment Program established in the Public Health Service Act.


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                    IN THE HOUSE OF REPRESENTATIVES

                             April 4, 2001

 Mr. Phelps (for himself, Mr. Nethercutt, and Mr. Rush) 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 exclude from gross income 
  loan payments received under the National Health Service Corps Loan 
    Repayment Program established in the Public Health Service Act.

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

SECTION 1. INTERNAL REVENUE CODE OF 1986; EXCLUSION FOR LOAN PAYMENTS 
              UNDER NATIONAL HEALTH SERVICE CORPS LOAN REPAYMENT 
              PROGRAM.

    (a) In General.--Section 117 of the Internal Revenue Code of 1986 
is amended by adding at the end the following new subsection:
    ``(e) Loan Payments Under National Health Service Corps Loan 
Repayment Program.--Gross income shall not include any amount received 
under section 338B(g) of the Public Health Service Act.''
    (b) Effective Date.--The amendment made by subsection (a) shall 
apply to amounts received by an individual in taxable years beginning 
after December 31, 2000.
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