H.R. 394 (102nd): To amend the Internal Revenue Code of 1986 to restore the prior law exclusion for scholarships and fellowships and to restore the deduction for interest on educational loans.

Introduced:
Jan 03, 1991 (102nd Congress, 1991–1992)
Sponsor:
Rep. David Price [D-NC4]
Status:
Died (Referred to Committee)
See Instead:
This bill was re-introduced as H.R. 959 (103rd) on Feb 17, 1993.

The bill’s title was written by the bill’s sponsor. H.R. stands for House of Representatives bill.

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Status

This bill was introduced on January 3, 1991, in a previous session of Congress, but was not enacted.

Progress
Introduced Jan 03, 1991
Cosponsors
165 cosponsors (132D, 29R, 1I, 1D, 1R, 1D) (show)
Committees

House Ways and Means

The committee chair determines whether a bill will move past the committee stage.

Summary

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Text

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Primary Source

View on THOMAS (The Library of Congress)

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GovTrack’s Bill Summary

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Library of Congress Summary

The summary below was written by the Congressional Research Service, which is a nonpartisan division of the Library of Congress.

1/3/1991--Introduced.
Repeals provisions of the Tax Reform Act of 1986 that restrict the types of scholarships and fellowship grants that may be excluded from gross income for income tax purposes. Amends the Internal Revenue Code to allow an income tax deduction for interest on a qualified educational loan incurred to pay the educational expenses of the taxpayer, spouse, or dependent. Eliminates the current requirement that such indebtedness be secured by an interest in real property.

House Republican Conference Summary

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No summary available.

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