[Congressional Bills 115th Congress]
[From the U.S. Government Publishing Office]
[S. 1042 Introduced in Senate (IS)]

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115th CONGRESS
  1st Session
                                S. 1042

    To amend the Internal Revenue Code to exclude Segal Americorps 
            Education Awards and related awards from income.


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                   IN THE SENATE OF THE UNITED STATES

                              May 4, 2017

Mr. Bennet (for himself and Mr. Isakson) 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 to exclude Segal Americorps 
            Education Awards and related awards from income.

    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 ``Segal AmeriCorps Education Award 
Enhancement Act of 2017''.

SEC. 2. EXCLUSION OF SEGAL AMERICORPS EDUCATION AWARDS AND RELATED 
              EDUCATIONAL AWARDS.

    (a) In General.--Paragraph (2) of section 117(c) of the Internal 
Revenue Code of 1986 is amended by striking ``or'' at the end of 
subparagraph (B), by striking the period at the end of subparagraph (C) 
and inserting ``, or'', and by adding at the end the following new 
subparagraph:
                    ``(D) a national service educational award under 
                subtitle D of title I of the National and Community 
                Service Act of 1990.''.
    (b) Exclusion of Discharge of Student Loan Debt.--Subsection (f) of 
section 108 of the Internal Revenue Code of 1986 is amended by adding 
at the end the following new paragraph:
            ``(5) Payments under national service educational award 
        programs.--In the case of an individual, gross income shall not 
        include any amount received under a national service 
        educational award under subtitle D of title I of the National 
        and Community Service Act of 1990.''.
    (c) Effective Date.--The amendments made by this section shall 
apply to payments made in taxable years beginning after the date of the 
enactment of this Act.
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