Scholarship Tax Relief for Students Act of 2015

Bill: 114-hr-3452
Sponsor: full_name: Rep. Kildee, Daniel T. [D-MI-5]
Introduced: 2015-09-08
Policy area: Taxation
Subjects: Higher education

Income tax exclusion

Student aid and college costs
Latest action: action_date: 2015-09-08
text: Referred to the House Committee on Ways and Means.

Summaries:
action_date: 2015-09-08
action_desc: Introduced in House
text: <p><strong>Scholarship Tax Relief for Students Act of 2015</strong></p> <p>The Internal Revenue Code allows an exclusion from gross income for amounts received as a scholarship if such amounts are used to pay for qualified tuition and related expenses. This bill amends the Internal Revenue Code to include in the definition of &quot;qualified tuition and related expenses&quot; the room and board expenses of a full-time student and expenses payable under a Federal Pell Grant. </p>

tv_txt: I 114th CONGRESS 1st Session H. R. 3452 IN THE HOUSE OF REPRESENTATIVES September 8, 2015 Mr. Kildee 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 amount awarded under a Federal Pell Grant and any portion of a scholarship used by a full-time student for room and board.

1. Short title This Act may be cited as the Scholarship Tax Relief for Students Act of 2015 . 2. Exclusion for Federal Pell Grants and for scholarship and fellowship funds used for room and board (a) In general Section 117(b)(2) of the Internal Revenue Code of 1986 is amended by striking and at the end of subparagraph (A), by striking the period at the end of subparagraph (B) and inserting a comma, and by adding at the end the following new subparagraphs: (C) room and board while carrying a full-time workload for the course of study the individual is pursuing at an educational organization, and (D) in the case of amounts awarded under subpart 1 of part A of title IV of the Higher Education Act of 1965 (relating to Federal Pell Grants), any expenses for which such amounts may be used by the individual under such subpart. . (b) Effective date The amendment made by subsection (a) shall apply to amounts received in taxable years beginning after December 31, 2014.