I 

112TH CONGRESS 

2D SESSION H. R. 5044 

To amend the Internal Revenue Code of 1986 to exclude from gross income 

any discharge of indebtedness income on education loans of deceased veterans. 

IN THE HOUSE OF REPRESENTATIVES 

APRIL 27, 2012 

Mr. DESJARLAIS (for himself, Mr. ROE of Tennessee, Mr. WEST, Mr. WALZ

of Minnesota, Mrs. BLACKBURN, Mr. COOPER, Mr. HUNTER, Mr. DUNCAN of Tennessee, Mr. FINCHER, Mr. KLINE, Mr. FLEISCHMANN, Mr. 

MCKEON, and Mrs. BLACK) 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 exclude 

from gross income any discharge of indebtedness income 

on education loans of deceased veterans. 

1 Be it enacted by the Senate and House of Representa2 tives of the United States of America in Congress assembled, 

3 SECTION 1. SHORT TITLE. 

4 This Act may be cited as the ‘‘Andrew P. Carpenter 

5 Tax Act’’. 


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1 SEC. 2. DISCHARGE OF INDEBTEDNESS INCOME ON EDU2 CATION LOANS OF DECEASED VETERANS. 

3 (a) IN GENERAL.—Subsection (f) of section 108 of 

4 the Internal Revenue Code of 1986 is amended by adding 

5 at the end the following new paragraph: 

6 ‘‘(5) DECEASED VETERANS.— 

7 ‘‘(A) IN GENERAL.—In the case of an indi8 vidual, gross income shall not include any 

9 amount which (but for this paragraph) would 

10 be includible in gross income by reason of the 

11 discharge (in whole or in part) of any student 

12 loan described in subparagraph (B) if, at the 

13 time of such discharge, such individual is a vet14 eran who served on active duty in the Armed 

15 Forces of the United States, and is deceased as 

16 a result of a service-connected disability. 

17 ‘‘(B) STUDENT LOAN DESCRIBED.—For 

18 purposes of subparagraph (A), a student loan 

19 described in this subparagraph is a loan that— 

20 ‘‘(i) is made, insured, or guaranteed 

21 under title IV of the Higher Education Act 

22 of 1965, or 

23 ‘‘(ii) is a private education loan (as 

24 defined in section 140(a)(7) of the Truth 

25 in Lending Act (15 U.S.C. 1650(a)(7))), 

26 made by an entity (other than an entity 


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1 described in paragraph (2)) to an indi2 vidual to assist the individual in attending 

3 an educational organization described in 

4 section 170(b)(1)(A)(ii). 

5 ‘‘(C) SERVICE-CONNECTED DISABILITY.— 

6 For purposes of subparagraph (A), the term 

7 ‘service-connected disability’ has the meaning 

8 given such term by section 101(16) of title 38, 

9 United States Code.’’. 

10 (b) EFFECTIVE DATE.—The amendments made by 

11 this section shall apply to discharges of indebtedness oc12 curring on or after October 7, 2001. 

13 (c) WAIVER OF LIMITATION FOR CREDITS AND RE14 FUNDS ATTRIBUTABLE TO THIS ACT.—If the credit or re15 fund of any overpayment of tax resulting from the applica16 tion of the amendment made by subsection (a) to a period 

17 before the date of enactment of this Act is prevented as 

18 of such date by the operation of any law or rule of law 

19 (including res judicata), such credit or refund may never20 theless be allowed or made if the claim therefor is filed 

21 before the close of the 1-year period beginning on the date 

22 of the enactment of this Act. 

Æ 


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