Bill > HR2660

This bill amends the Internal Revenue Code to provide two key exemptions for qualified student loan bonds. First, the bill removes these bonds from the volume cap, which is a limit on the amount of tax-exempt private activity bonds that can be issued in a given state or local jurisdiction each year. Second, the bill exempts qualified student loan bonds from the alternative minimum tax (AMT), which is an alternative tax calculation method designed to ensure that high-income taxpayers pay at least a minimum amount of tax. Specifically, the bill modifies existing tax code sections to exclude qualified student loan bonds from volume cap calculations and from being classified as private activity bonds for AMT purposes. The changes apply to any obligations issued after the date of the bill's enactment. By providing these tax exemptions, the bill aims to make it easier and potentially less expensive for organizations to issue bonds specifically designed to help students finance their education by reducing the tax-related barriers to issuing such bonds.

Budget and Finance

https://www.congress.gov/bill/119th-congress/house-bill/2660/all-info