Kids to College Act

Bill: 116-hr-1810
Sponsor: Rep. Green, Mark E. [R-TN-7]
Introduced: 2019-03-18 in the House
Policy area: Finance and Financial Sector
Subjects: Administrative law and regulatory procedures
Business investment and capital
Consumer Financial Protection Bureau
Consumer credit
Department of Defense
Department of the Treasury
Federal preemption
Higher education
Income tax exclusion
Military personnel and dependents
State and local government operations
Student aid and college costs
Tax administration and collection, taxpayers
Wages and earnings

Summary:
action_date: 2019-03-18
text: 

Kids to College Act

 
This bill provides for income-share agreements whereby a student agrees to pay a percentage of future income, for a specified period of time, in exchange for funds to pay for educational expenses.
 
The bill places caps on the percentage of a student's future income that may go towards repayment, provides income minimums under which the required payment is zero, and establishes limitations on the length of these agreements. 
 
The bill provides for the treatment of these agreements under various laws, including tax, securities, and consumer finance laws. 
 


Legislative actions:
action_date: 2019-04-11
text: Referred to the Subcommittee on Economic Opportunity.
action_date: 2019-03-19
text: Referred to the Subcommittee on Military Personnel.
action_date: 2019-03-18
text: Referred to the Committee on Financial Services, and in addition to the Committees on Ways and Means, Education and Labor, Armed Services, and Veterans' Affairs, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
action_date: 2019-03-18
text: Referred to the Committee on Financial Services, and in addition to the Committees on Ways and Means, Education and Labor, Armed Services, and Veterans' Affairs, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
action_date: 2019-03-18
text: Referred to the Committee on Financial Services, and in addition to the Committees on Ways and Means, Education and Labor, Armed Services, and Veterans' Affairs, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
action_date: 2019-03-18
text: Referred to the Committee on Financial Services, and in addition to the Committees on Ways and Means, Education and Labor, Armed Services, and Veterans' Affairs, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
action_date: 2019-03-18
text: Referred to the Committee on Financial Services, and in addition to the Committees on Ways and Means, Education and Labor, Armed Services, and Veterans' Affairs, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
action_date: 2019-03-18
text: Introduced in House
action_date: 2019-03-18
text: Introduced in House