[Congressional Bills 107th Congress]
[From the U.S. Government Publishing Office]
[S. 2654 Introduced in Senate (IS)]







107th CONGRESS
  2d Session
                                S. 2654

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.


_______________________________________________________________________


                   IN THE SENATE OF THE UNITED STATES

                             June 20, 2002

  Ms. Cantwell (for herself, Mr. Thomas, Mr. Cleland, Ms. Snowe, Mr. 
Johnson, Mr. Smith of Oregon, Ms. Landrieu, Mr. Hagel, Mr. Conrad, Mr. 
 Roberts, Mr. Durbin, Mr. Torricelli, Mr. Rockefeller, and Mr. Wyden) 
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 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. 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, 2001.
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