[Congressional Bills 117th Congress]
[From the U.S. Government Publishing Office]
[H.R. 5097 Introduced in House (IH)]

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117th CONGRESS
  1st Session
                                H. R. 5097

    To amend the Internal Revenue Code of 1986 to retroactively and 
  perpetually apply the exclusion of discharged student loan debt for 
 veterans killed or totally and permanently disabled in connection to 
                  their service to the United States.


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                    IN THE HOUSE OF REPRESENTATIVES

                            August 24, 2021

  Mr. Neguse 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 retroactively and 
  perpetually apply the exclusion of discharged student loan debt for 
 veterans killed or totally and permanently disabled in connection to 
                  their service to the United States.

    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 ``Veterans Equitable Taxation of 
Student Loans Act'' or the ``V.E.T. Student Loans Act''.

SEC. 2. EXCLUSION OF DISCHARGED STUDENT LOAN DEBT FROM GROSS INCOME OF 
              VETERANS.

    (a) In General.--Section 108(f) of the Internal Revenue Code of 
1986 is amended by adding at the end the following new paragraph:
            ``(6) Special rule for veterans.--In the case of a taxpayer 
        who is a veteran of the Armed Forces of the United States, 
        paragraph (5) shall be applied by substituting `after December 
        31, 2000' for `after December 31, 2020, and before January 1, 
        2026'.''.
    (b) Effective Date.--The amendment made by this section shall take 
effect as if included in section 9675 of the American Rescue Plan Act 
of 2021.
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