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Bill > HR1659


US HR1659

US HR1659
Stop Taxing Death and Disability Act


summary

Introduced
03/21/2017
In Committee
03/21/2017
Crossed Over
Passed
Dead
12/31/2018

Introduced Session

115th Congress

Bill Summary

Stop Taxing Death and Disability Act This bill amends the Internal Revenue Code to exclude from the gross income of an individual the discharge of student loans or private education loans due to the death or disability of the student. The bill also amends the Higher Education Act of 1965 to require the Department of Education (ED) to discharge the liability on loans that parents received on behalf of a student who: (1) has become permanently and totally disabled, or (2) is unable to engage in any substantial gainful activity due to a physical or mental impairment that can be expected to result in death or has lasted or is expected to last continuously for at least 60 months. (Under current law, ED is required to discharge the loans to parents if the student dies.)

AI Summary

This bill amends the Internal Revenue Code to exclude from an individual's gross income the discharge of student loans or private education loans due to the death or disability of the student. It also amends the Higher Education Act of 1965 to require the Department of Education to discharge the liability on loans that parents received on behalf of a student who has become permanently and totally disabled or is unable to engage in any substantial gainful activity due to a physical or mental impairment. This change expands on the current law, which only requires the Department of Education to discharge the loans to parents if the student dies.

Committee Categories

Budget and Finance

Sponsors (17)

Last Action

Referred to the Committee on Ways and Means, and in addition to the Committee on Education and the Workforce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. (on 03/21/2017)

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