[Congressional Bills 114th Congress]
[From the U.S. Government Publishing Office]
[H.R. 5415 Introduced in House (IH)]

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114th CONGRESS
  2d Session
                                H. R. 5415

To amend the Internal Revenue Code of 1986 to exclude from gross income 
  student loan payments made by an employer on behalf of an employee.


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                    IN THE HOUSE OF REPRESENTATIVES

                              June 9, 2016

  Ms. Stefanik (for herself and Mr. Messer) introduced the following 
      bill; which was referred to the Committee on Ways and Means

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                                 A BILL


 
To amend the Internal Revenue Code of 1986 to exclude from gross income 
  student loan payments made by an employer on behalf of an employee.

    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 ``Helping Employers Lessen Payments 
for Students Act of 2016'' or the ``HELPS Act''.

SEC. 2. EXCLUSION FOR EMPLOYER STUDENT LOAN PAYMENTS.

    (a) In General.--Section 127(c)(1) of the Internal Revenue Code of 
1986 is amended by striking ``and'' at the end of subparagraph (A), by 
redesignating subparagraph (B) as subparagraph (C), and by inserting 
after subparagraph (A) the following new subparagraph:
                    ``(B) the payment by an employer, on behalf of an 
                employee, of any indebtedness of the employee under a 
                qualified education loan (as defined in section 
                221(d)(1)) or any interest relating to such a loan (but 
                only to the extent such payments for any taxable year 
                do not exceed $10,000), and''.
    (b) Denial of Double Benefit.--Section 221(e)(1) of such Code is 
amended by inserting before the period at the end the following: ``, or 
for which an exclusion is allowable under section 127''.
    (c) Effective Date.--The amendments made by this section shall 
apply to payments after December 31, 2015.
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