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S. 1667: Tax Relief for Student Success Act

The text of the bill below is as of May 23, 2019 (Introduced).


II

116th CONGRESS

1st Session

S. 1667

IN THE SENATE OF THE UNITED STATES

May 23 (legislative day, May 22), 2019

(for himself, Ms. Hassan, Mr. Cassidy, Mr. Cramer, Mr. Roberts, Mr. Daines, Ms. Ernst, Ms. Collins, Mr. King, Ms. Sinema, Mr. Jones, Mr. Wyden, Mr. Menendez, Ms. Cortez Masto, Ms. Klobuchar, and Mr. Blumenthal) 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 treat certain scholarships as earned income for purposes of the kiddie tax.

1.

Short title

This Act may be cited as the Tax Relief for Student Success Act.

2.

Certain scholarships treated as earned income for kiddie tax

(a)

In general

Section 1(g)(4) of the Internal Revenue Code of 1986 is amended by adding at the end the following new subparagraph:

(D)

Treatment of certain scholarships

For purposes of this subsection, any scholarship or fellowship grant which—

(i)

is received by a child who is a candidate for a degree at an educational organization described in section 170(b)(1)(A)(ii),

(ii)

supports such candidacy, and

(iii)

is included in the gross income of such child,

shall be considered earned income of such child.

.

(b)

Effective date

The amendment made by this section shall apply to taxable years beginning after December 31, 2017.