[Congressional Bills 114th Congress]
[From the U.S. Government Publishing Office]
[H.R. 4363 Introduced in House (IH)]

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114th CONGRESS
  2d Session
                                H. R. 4363

To amend the Internal Revenue Code of 1986 to exclude from gross income 
      amounts paid by an employer on an employee's student loans.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                            January 11, 2016

 Mr. Austin Scott of Georgia 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 
      amounts paid by an employer on an employee's student loans.

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

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Student Tax Affordability and Relief 
Act''.

SEC. 2. EXCLUSION FROM GROSS INCOME FOR BENEFITS UNDER STUDENT LOAN 
              PAYMENT ASSISTANCE PROGRAMS.

    (a) In General.--Part III of subchapter B of chapter 1 of the 
Internal Revenue Code of 1986 is amended by inserting after section 127 
the following new section:

``SEC. 127A. BENEFITS UNDER EMPLOYER SPONSORED STUDENT LOAN REPAYMENT 
              PROGRAMS.

    ``(a) In General.--In the case of an individual, gross income does 
not include qualified student loan payment assistance.
    ``(b) Qualified Student Loan Payment Assistance.--For purposes of 
this section, the term `qualified student loan payment assistance' 
means amounts paid or incurred by an employer under a plan for the 
exclusive benefit of the employees of the employer to provide such 
employees with student loan payment assistance.
    ``(c) Limitations.--The amount taken into account under subsection 
(a) for a taxable year shall not exceed $10,000.
    ``(d) Definitions.--For purposes of this section--
            ``(1) Student loan payment assistance.--The term `student 
        loan payment assistance' means the payment of principal or 
        interest on--
                    ``(A) any indebtedness incurred by an employee for 
                qualified higher education expenses incurred by the 
                employee for education furnished to the employee, and
                    ``(B) any indebtedness used to refinance 
                indebtedness described in subparagraph (A).
            ``(2) Qualified higher education expense.--The term 
        `qualified higher education expense' means the cost of 
        attendance as defined in section 472 of the Higher Education 
        Act of 1965 (20 U.S.C. 1087ll).''.
    (b) Clerical Amendment.--The table of sections for part III of 
subchapter B of chapter 1 of such Code is amended by inserting after 
the item relating to section 127 the following new item:

``Sec. 127A. Benefits under employer sponsored student loan repayment 
                            programs.''.
    (c) Effective Date.--The amendments made by this section shall 
apply to taxable years beginning after the date of the enactment of 
this Act.
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