[Congressional Bills 108th Congress]
[From the U.S. Government Publishing Office]
[S. 2048 Introduced in Senate (IS)]







108th CONGRESS
  2d Session
                                S. 2048

   To amend the Internal Revenue Code of 1986 to make permanent the 
deduction for qualified tuition and related expenses and to repeal the 
sunset of the Economic Growth and Tax Relief Reconciliation Act of 2001 
                    with respect to such deduction.


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                   IN THE SENATE OF THE UNITED STATES

                            February 3, 2004

 Mr. Grassley introduced the following bill; which was read twice and 
                  referred to the Committee on Finance

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                                 A BILL


 
   To amend the Internal Revenue Code of 1986 to make permanent the 
deduction for qualified tuition and related expenses and to repeal the 
sunset of the Economic Growth and Tax Relief Reconciliation Act of 2001 
                    with respect to such deduction.

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

SECTION 1. PERMANENT DEDUCTION FOR QUALIFIED TUITION AND RELATED 
              EXPENSES.

    (a) Permanent Deduction.--
            (1) In general.--Section 222 of the Internal Revenue Code 
        of 1986 (relating to qualified tuition and related expenses) is 
        amended by striking subsection (e).
            (2) Conforming amendment.--Subparagraph (B) of section 
        222(b)(2) of such Code (relating to applicable dollar limit) is 
        amended by striking ``2004 and 2005.--In the case of a taxable 
        year beginning in 2004 or 2005,'' and inserting ``2004 and 
        thereafter.--In the case of any taxable year beginning after 
        2003,''.
    (b) Repeal of Suspension.--Section 901 of the Economic Growth and 
Tax Relief Reconciliation Act of 2001 is amended by adding at the end 
the following new subsection:
    ``(c) Exception.--Subsection (a) shall not apply to the amendments 
made by section 431 (relating to qualified tuition and related 
expenses).''.
    (c) Effective Date.--The amendments made by this section shall 
apply to taxable years beginning after December 31, 2003.
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