[Congressional Bills 110th Congress]
[From the U.S. Government Publishing Office]
[H.R. 4662 Introduced in House (IH)]







110th CONGRESS
  1st Session
                                H. R. 4662

    To amend the Internal Revenue Code of 1986 to provide that the 
  exclusion for qualified scholarships shall apply to allowances for 
                room, board, and special needs services.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                           December 13, 2007

  Mr. Kagen 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 provide that the 
  exclusion for qualified scholarships shall apply to allowances for 
                room, board, and special needs services.

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

SECTION 1. ALLOWANCE OF ROOM, BOARD, AND SPECIAL NEEDS SERVICES IN THE 
              CASE OF SCHOLARSHIPS WITH RESPECT TO HIGHER EDUCATION.

    (a) In General.--Paragraph (1) of section 117(b) of the Internal 
Revenue Code of 1986 (defining qualified scholarship) is amended by 
inserting before the period at the end the following: ``or, in the case 
of enrollment or attendance at an eligible educational institution, for 
qualified higher education expenses.''.
    (b) Definitions.--Subsection (b) of section 117 of such Code is 
amended by adding at the end the following new paragraph:
            ``(3) Qualified higher education expenses; eligible 
        educational institution.--The terms `qualified higher education 
        expenses' and `eligible educational institution' have the 
        meanings given such terms in section 529(e).''.
    (c) Effective Date.--The amendments made by this section shall 
apply to expenses paid after December 31, 2007 (in taxable years ending 
after such date), for education furnished in academic periods beginning 
after such date.
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