H.R. 5097, Veterans Equitable Taxation of Student Loans Act
Summary
H.R. 5097, the Veterans Equitable Taxation of Student Loans Act, is 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. Neguse introduced it in the House of Representatives on August 24, 2021, and it was referred to the Committee on Ways and Means. Section 108(f) would get a special rule for veterans of the Armed Forces, applying paragraph (5) by substituting "after December 31, 2000" for the existing date language. The amendment would take effect as if included in section 9675 of the American Rescue Plan Act of 2021.
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“H.R. 5097, Veterans Equitable Taxation of Student Loans Act.”
Original at www.govinfo.gov. Archived at Pandemic Darlings, https://pandemicdarlings.com/source-documents/bills-bills-117hr5097ih-bills-117hr5097ih/
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I
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.
IN THE HOUSE OF REPRESENTATIVES
AUGUST 24, 2021
Mr. NEGUSE 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 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.
1 Be it enacted by the Senate and House of Representa-
2 tives of the United States of America in Congress assembled,
3 SECTION 1. SHORT TITLE.
4 This Act may be cited as the ‘‘Veterans Equitable
5 Taxation of Student Loans Act’’ or the ‘‘V.E.T. Student
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6 Loans Act’’.
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2
1 SEC. 2. EXCLUSION OF DISCHARGED STUDENT LOAN DEBT
2 FROM GROSS INCOME OF VETERANS.
3 (a) IN GENERAL.—Section 108(f) of the Internal
4 Revenue Code of 1986 is amended by adding at the end
5 the following new paragraph:
6 ‘‘(6) SPECIAL RULE FOR VETERANS.—In the
7 case of a taxpayer who is a veteran of the Armed
8 Forces of the United States, paragraph (5) shall be
9 applied by substituting ‘after December 31, 2000’
10 for ‘after December 31, 2020, and before January 1,
11 2026’.’’.
12 (b) EFFECTIVE DATE.—The amendment made by
13 this section shall take effect as if included in section 9675
14 of the American Rescue Plan Act of 2021.
Æ
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