110 HR 4662 IH: To amend the Internal Revenue Code of 1986 to provide U.S. House of Representatives 2007-12-13 text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain.

I 110th CONGRESS 1st Session H. R. 4662 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.

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.