Student Loan Opportunity Act of 2013

Bill: 113-hr-2573
Sponsor: full_name: Rep. Flores, Bill [R-TX-17]
Introduced: 2013-06-28
Policy area: Taxation
Subjects: Government corporations and government-sponsored enterprises

Higher education

Income tax exclusion

Securities

State and local finance

Student aid and college costs
Latest action: action_date: 2013-06-28
text: Referred to the House Committee on Ways and Means.

Summaries:
action_date: 2013-06-28
action_desc: Introduced in House
text: <p>Student Loan Opportunity Act of 2013 - Amends the Internal Revenue Code, with respect to tax-exempt private activity bond financing, to eliminate the restriction on nonprofit corporations that acquire student loan notes to notes incurred under the Higher Education Act of 1965 (thus allowing such corporations to access tax-exempt financing for other types of student loans). </p>

tv_txt: I 113th CONGRESS 1st Session H. R. 2573 IN THE HOUSE OF REPRESENTATIVES June 28, 2013 Mr. Flores (for himself and Mr. Cuellar ) 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 allow qualified scholarship funding corporations to access tax-exempt financing for alternative private student loans.

1. Short title This Act may be cited as the Student Loan Opportunity Act of 2013 . 2. Qualified scholarship funding corporation tax-exempt financing for alternative private student loans (a) In general Paragraph (2) of section 150(d) of the Internal Revenue Code of 1986 is amended by striking established and and incurred under the Higher Education Act of 1965 in subparagraph (A) thereof. (b) Effective date The amendment made by this section shall apply to bonds issued after the date of enactment of this Act.