Employer Participation in Repayment Act of 2019

Bill: 116-hr-1043
Sponsor: full_name: Rep. Peters, Scott H. [D-CA-52]
Introduced: 2019-02-07
Policy area: Taxation
Subjects: Employee benefits and pensions

Income tax exclusion

Interest, dividends, interest rates

Student aid and college costs
Latest action: action_date: 2019-02-07
text: Referred to the House Committee on Ways and Means.

Summaries:
action_date: 2019-02-07
action_desc: Introduced in House
text: <p><strong></strong></p> <p><b>Employer Participation in Repayment Act of 2019</b></p> <p>This bill expands the tax exclusion for employer-provided educational assistance to include payments of qualified education loans by an employer to either an employee or a lender.</p>

tv_txt: I 116th CONGRESS 1st Session H. R. 1043 IN THE HOUSE OF REPRESENTATIVES February 7, 2019 Mr. Peters (for himself, Mr. Rodney Davis of Illinois , Mr. Blumenauer , Ms. Stefanik , Mrs. Murphy , Mr. Smith of Missouri , Ms. Moore , Mr. Cole , Mr. Bacon , Mr. Barr , Ms. Barragán , Mrs. Beatty , Mr. Bera , Mr. Bost , Mr. Brendan F. Boyle of Pennsylvania , Mrs. Brooks of Indiana , Ms. Brownley of California , Mr. Bucshon , Mrs. Bustos , Mr. Carbajal , Mr. Carson of Indiana , Mr. Cartwright , Ms. Judy Chu of California , Mr. Cicilline , Mr. Cohen , Mr. Connolly , Mr. Cook , Mr. Crawford , Ms. Dean , Ms. DelBene , Mr. Delgado , Mr. DeSaulnier , Mr. Fitzpatrick , Mr. Foster , Mr. Gallego , Mr. Garamendi , Mr. Gomez , Mr. Grothman , Ms. Haaland , Ms. Hill of California , Mr. Himes , Mr. Hudson , Mr. Hurd of Texas , Mr. Joyce of Ohio , Mr. Katko , Mr. Kennedy , Mr. Khanna , Mr. Kilmer , Mr. King of New York , Mr. Kinzinger , Mrs. Kirkpatrick , Ms. Kuster of New Hampshire , Mr. LaHood , Mr. Lamb , Mr. Levin of California , Mr. Ted Lieu of California , Mr. Loebsack , Ms. Lofgren , Mr. Sean Patrick Maloney of New York , Mr. Marshall , Mrs. McBath , Mr. McEachin , Mr. McGovern , Mr. McKinley , Mr. McNerney , Mr. Mitchell , Mr. Moulton , Mrs. Napolitano , Mr. O'Halleran , Mr. Pallone , Mr. Peterson , Ms. Pingree , Mr. Quigley , Miss Rice of New York , Mr. Riggleman , Mr. David P. Roe of Tennessee , Mr. Rose of New York , Mr. Rouzer , Mr. Ruppersberger , Mr. Ryan , Ms. Scanlon , Mr. Schrader , Ms. Sewell of Alabama , Ms. Slotkin , Mr. Stanton , Mr. Stivers , Mr. Swalwell of California , Mr. Takano , Mr. Tonko , Mrs. Torres of California , Mrs. Trahan , Mr. Turner , Mr. Vargas , Mr. Welch , Ms. Wilson of Florida , Mr. Womack , Mr. Lynch , and Mr. Hastings ) 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 extend the exclusion for employer-provided educational assistance to employer payments of qualified education loans.

1. Short title This Act may be cited as the Employer Participation in Repayment Act of 2019 . 2. Exclusion for employer payment of qualified education loans (a) In general Section 127(c)(1) of the Internal Revenue Code of 1986 is amended by striking and at the end of subparagraph (A), by redesignating subparagraph (B) as subparagraph (C), and by inserting after subparagraph (A) the following new subparagraph: (B) the payment by an employer, whether paid to the employee or to a lender, of principal or interest on any qualified education loan (as defined in section 221(d)(1)) incurred by the employee, and . (b) Denial of double benefit Section 221(e)(1) of such Code is amended by inserting before the period at the end the following: , or for any amount which is excludable from gross income under section 127(c)(1)(B) . (c) Effective date The amendments made by this section shall apply to payments made by employers after December 31, 2019.