< Back to H.R. 686 (107th Congress, 2001–2002)

Text of To amend the Internal Revenue Code of 1986 to repeal the 60-month limitation period on the allowance of a deduction ...

...of a deduction of interest on loans for higher education expenses.

This bill was introduced on February 14, 2001, in a previous session of Congress, but was not enacted. The text of the bill below is as of Feb 14, 2001 (Introduced).

Source: GPO

HR 686 IH

107th CONGRESS

1st Session

H. R. 686

To amend the Internal Revenue Code of 1986 to repeal the 60-month limitation period on the allowance of a deduction of interest on loans for higher education expenses.

IN THE HOUSE OF REPRESENTATIVES

February 14, 2001

Mrs. MINK of Hawaii (for herself, Mr. PAUL, Mr. BLAGOJEVICH, Ms. PELOSI, Mr. UNDERWOOD, Ms. BROWN of Florida, Mr. HILLIARD, Mr. ETHERIDGE, Mr. COSTELLO, Mr. HINOJOSA, Mr. MENENDEZ, Ms. KILPATRICK, Ms. ROYBAL-ALLARD, Mr. KUCINICH, Ms. RIVERS, Mr. TRAFICANT, Ms. WOOLSEY, Mrs. KELLY, Mr. DAVIS of Illinois, Mr. ABERCROMBIE, and Mr. GREEN of Texas) 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 repeal the 60-month limitation period on the allowance of a deduction of interest on loans for higher education expenses.

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

SECTION 1. REPEAL OF 60-MONTH LIMITATION PERIOD ON DEDUCTION OF INTEREST ON HIGHER EDUCATION LOANS.

    (a) LIMITATION ON PERIOD DEDUCTION ALLOWED- Section 221 of the Internal Revenue Code of 1986 (relating to interest on education loans) is amended by striking subsection (d).

    (b) EFFECTIVE DATE- The amendments made by this section shall apply to taxable years beginning after December 31, 2000.