116th CONGRESS 1st Session |
To amend the Internal Revenue Code of 1986 to permit fellowship and stipend compensation to be saved in an individual retirement account.
February 13, 2019
Mr. Kennedy (for himself, Mr. Banks, and Mr. Moulton) introduced the following bill; which was referred to the Committee on Ways and Means
To amend the Internal Revenue Code of 1986 to permit fellowship and stipend compensation to be saved in an individual retirement account.
Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,
This Act may be cited as the “Graduate Student Savings Act of 2019”.
SEC. 2. Certain non-tuition fellowship and stipend payments treated as compensation.
(a) In general.—Paragraph (1) of section 219(f) of the Internal Revenue Code of 1986 is amended by adding at the end the following: “Such term includes any amount paid to an individual to aid the individual in the pursuit of graduate or postdoctoral study or research.”.
(b) Effective date.—The amendment made by this section shall apply to taxable years beginning after December 31, 2019.