115 STAT. 2410 PUBLIC LAW 107–131—JAN. 16, 2002

Public Law 107–131

107th Congress

An Act

To amend the Internal Revenue Code of 1986 to simplify the reporting requirements

relating to higher education tuition and related expenses.

Be it enacted by the Senate and House of Representatives of

the United States of America in Congress assembled,

SECTION 1. SIMPLIFICATION OF REPORTING REQUIREMENTS

RELATING TO HIGHER EDUCATION TUITION AND

RELATED EXPENSES.

(a) AMENDMENT RELATING TO PERSONS REQUIRED TO MAKE

RETURN.—Paragraph (1) of section 6050S(a) of the Internal Revenue

Code of 1986 (relating to returns relating to higher education tuition

and related expenses) is amended to read as follows:

‘‘(1) which is an eligible educational institution which

enrolls any individual for any academic period;’’.

(b) AMENDMENTS RELATING TO FORM AND MANNER OF

RETURNS.—Subsection (b) of section 6050S of such Code is amended

as follows:

(1) Paragraph (1) is amended by inserting ‘‘and’’ after the

comma at the end.

(2) Subparagraph (A) of paragraph (2) is amended to read

as follows:

‘‘(A) the name, address, and TIN of any individual—

‘‘(i) who is or has been enrolled at the institution

and with respect to whom transactions described in

subparagraph (B) are made during the calendar year,

or

‘‘(ii) with respect to whom payments described in

subsection (a)(2) or (a)(3) were made or received,’’.

(3) Paragraph (2) of section 6050S(b) of such Code is

amended by striking subparagraph (B) and redesignating subparagraphs (C) and (D) as subparagraphs (B) and (C), respectively.

(4) Subparagraph (B) of section 6050S(b)(2) of such Code,

as redesignated by paragraph (3), is amended to read as follows:

‘‘(B) the—

‘‘(i) aggregate amount of payments received or the

aggregate amount billed for qualified tuition and

related expenses with respect to the individual

described in subparagraph (A) during the calendar

year,

‘‘(ii) aggregate amount of grants received by such

individual for payment of costs of attendance that are

administered and processed by the institution during

such calendar year,

26 USC 6050S.

Jan. 16, 2002

[H.R. 3346]

PUBLIC LAW 107–131—JAN. 16, 2002 115 STAT. 2411

LEGISLATIVE HISTORY—H.R. 3346:

CONGRESSIONAL RECORD, Vol. 147 (2001):

Dec. 4, considered and passed House.

Dec. 20, considered and passed Senate.

Æ

‘‘(iii) amount of any adjustments to the aggregate

amounts reported by the institution pursuant to clause

(i) or (ii) with respect to such individual for a prior

calendar year,

‘‘(iv) aggregate amount of reimbursements or

refunds (or similar amounts) paid to such individual

during the calendar year by a person engaged in a

trade or business described in subsection (a)(2), and

‘‘(v) aggregate amount of interest received for the

calendar year from such individual, and’’.

(c) CONFORMING AMENDMENTS.—Subsection (d) of section 6050S

of such Code is amended— (1) by striking ‘‘or (B)’’; and

(2) in paragraph (2), by striking ‘‘subparagraph (C)’’ and

inserting ‘‘subparagraph (B)’’.

SEC. 2. EFFECTIVE DATE.

The amendments made by section 1 shall apply to expenses

paid or assessed after December 31, 2002 (in taxable years ending

after such date), for education furnished in academic periods beginning after such date.

Approved January 16, 2002.

Applicability.

26 USC 6050S

note.