IN THE SENATE OF THE UNITED STATES
May 7, 2019
Mr. Bennet (for himself, Mr. Isakson, Mr. Blunt, Ms. Collins, Mr. Coons, Ms. Cortez Masto, Mr. Merkley, Mr. Portman, Mrs. Shaheen, and Mr. Wicker) introduced the following bill; which was read twice and referred to the Committee on Finance
To amend the Internal Revenue Code of 1986 to provide an exclusion from gross income for AmeriCorps educational awards.
This Act may be cited as the
Segal AmeriCorps Education Award Tax Relief Act of 2019.
Exclusion from gross income of AmeriCorps educational awards
Paragraph (2) of section 117(c) of the Internal Revenue Code of 1986 is amended by striking
or at the end of subparagraph (B), by striking the period at the end of subparagraph (C) and inserting
, or, and by adding at the end the following new subparagraph:
a national service educational award under subtitle D of title I of the National and Community Service Act of 1990.
Exclusion of discharge of student loan debt
Subsection (f) of section 108 of such Code is amended by adding at the end the following new paragraph:
Payments under national service educational award programs
In the case of an individual, gross income shall not include any amount received under a national service educational award under subtitle D of title I of the National and Community Service Act of 1990 (42 U.S.C. 12601 et seq.).
The amendments made by this section shall apply to taxable years ending after the date of the enactment of this Act.