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S. 487 (115th): Veterinary Medicine Loan Repayment Program Enhancement Act

The text of the bill below is as of Mar 1, 2017 (Introduced).


II

115th CONGRESS

1st Session

S. 487

IN THE SENATE OF THE UNITED STATES

March 1, 2017

(for himself, Ms. Stabenow, Ms. Baldwin, Mr. Bennet, Mr. Blunt, Mr. Cochran, Ms. Duckworth, Mr. Gardner, Mrs. Gillibrand, Ms. Hirono, Mr. Isakson, Mr. King, Ms. Klobuchar, Mr. Leahy, Mr. Menendez, and Mr. Risch) introduced the following bill; which was read twice and referred to the Committee on Finance

A BILL

To amend the Internal Revenue Code of 1986 to provide for an exclusion for assistance provided to participants in certain veterinary student loan repayment or forgiveness programs.

1.

Short title

This Act may be cited as the Veterinary Medicine Loan Repayment Program Enhancement Act.

2.

Exclusion for assistance provided to participants in certain veterinary student loan repayment or forgiveness programs

(a)

In general

Paragraph (4) of section 108(f) of the Internal Revenue Code of 1986 is amended—

(1)

by striking or after such Act,,

(2)

by striking the period at the end and inserting , under section 1415A of the National Agricultural Research, Extension, and Teaching Policy Act of 1977 (7 U.S.C. 3151a), or under any other State loan repayment or loan forgiveness program that is intended to provide for increased access to veterinary services in such State., and

(3)

by striking state in the heading and inserting other.

(b)

Effective date

The amendments made by this section shall apply to amounts received by an individual in taxable years beginning after December 31, 2016.