[107th Congress Public Law 131]
[From the U.S. Government Printing Office]


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[DOCID: f:publ131.107]


[[Page 115 STAT. 2410]]

Public Law 107-131
107th Congress

                                 An Act


 
      To amend the Internal Revenue <<NOTE: Jan. 16, 2002 -  [H.R. 
3346]>> Code of 1986 to simplify the reporting requirements relating to 
             higher education tuition and related expenses.

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

SECTION 1. SIMPLIFICATION OF REPORTING REQUIREMENTS RELATING TO HIGHER 
            EDUCATION TUITION AND RELATED EXPENSES.

    (a) Amendment Relating to Persons Required To Make Return.--
Paragraph (1) of section 6050S(a) of the Internal Revenue Code 
of <<NOTE: 26 USC 6050S.>> 1986 (relating to returns relating to higher 
education tuition and related expenses) is amended to read as follows:
            ``(1) which is an eligible educational institution which 
        enrolls any individual for any academic period;''.

    (b) Amendments Relating to Form and Manner of Returns.--Subsection 
(b) of section 6050S of such Code is amended as follows:
            (1) Paragraph (1) is amended by inserting ``and'' after the 
        comma at the end.
            (2) Subparagraph (A) of paragraph (2) is amended to read as 
        follows:
                    ``(A) the name, address, and TIN of any individual--
                          ``(i) who is or has been enrolled at the 
                      institution and with respect to whom transactions 
                      described in subparagraph (B) are made during the 
                      calendar year, or
                          ``(ii) with respect to whom payments described 
                      in subsection (a)(2) or (a)(3) were made or 
                      received,''.
            (3) Paragraph (2) of section 6050S(b) of such Code is 
        amended by striking subparagraph (B) and redesignating 
        subparagraphs (C) and (D) as subparagraphs (B) and (C), 
        respectively.
            (4) Subparagraph (B) of section 6050S(b)(2) of such Code, as 
        redesignated by paragraph (3), is amended to read as follows:
                    ``(B) the--
                          ``(i) aggregate amount of payments received or 
                      the aggregate amount billed for qualified tuition 
                      and related expenses with respect to the 
                      individual described in subparagraph (A) during 
                      the calendar year,
                          ``(ii) aggregate amount of grants received by 
                      such individual for payment of costs of attendance 
                      that are administered and processed by the 
                      institution during such calendar year,

[[Page 115 STAT. 2411]]

                          ``(iii) amount of any adjustments to the 
                      aggregate amounts reported by the institution 
                      pursuant to clause (i) or (ii) with respect to 
                      such individual for a prior calendar year,
                          ``(iv) aggregate amount of reimbursements or 
                      refunds (or similar amounts) paid to such 
                      individual during the calendar year by a person 
                      engaged in a trade or business described in 
                      subsection (a)(2), and
                          ``(v) aggregate amount of interest received 
                      for the calendar year from such individual, and''.

    (c) Conforming Amendments.--Subsection (d) of section 6050S of such 
Code is amended--
            (1) by striking ``or (B)''; and
            (2) in paragraph (2), by striking ``subparagraph (C)'' and 
        inserting ``subparagraph (B)''.

SEC. 2. <<NOTE: 26 USC 6050S note.>> EFFECTIVE DATE.

    The <<NOTE: Applicability.>> amendments made by section 1 shall 
apply to expenses paid or assessed after December 31, 2002 (in taxable 
years ending after such date), for education furnished in academic 
periods beginning after such date.

    Approved January 16, 2002.

LEGISLATIVE HISTORY--H.R. 3346:
---------------------------------------------------------------------------

CONGRESSIONAL RECORD, Vol. 147 (2001):
            Dec. 4, considered and passed House.
            Dec. 20, considered and passed Senate.

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