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Senate Bill 460
116th Congress(2019-2020)
Employer Participation in Repayment Act of 2019
Introduced
Introduced
Introduced in Senate on Feb 12, 2019
Overview
Text
Introduced in Senate 
Feb 12, 2019
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Introduced in Senate(Feb 12, 2019)
Feb 12, 2019
About Linkage
Multiple bills can contain the same text. This could be an identical bill in the opposite chamber or a smaller bill with a section embedded in a larger bill.
Bill Sponsor regularly scans bill texts to find sections that are contained in other bill texts. When a matching section is found, the bills containing that section can be viewed by clicking "View Bills" within the bill text section.
Bill Sponsor is currently only finding exact word-for-word section matches. In a future release, partial matches will be included.
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S. 460 (Introduced-in-Senate)


116th CONGRESS
1st Session
S. 460


To amend the Internal Revenue Code of 1986 to extend the exclusion for employer-provided education assistance to employer payments of student loans.

IN THE SENATE OF THE UNITED STATES

February 12, 2019

Mr. Warner (for himself, Mr. Thune, Mr. King, Mrs. Capito, Mr. Markey, Mr. Roberts, Mr. Murphy, Mr. Hoeven, Mr. Jones, Mr. Rounds, Mr. Blumenthal, Ms. Collins, Mr. Tester, Mr. Blunt, Ms. Hassan, Mr. Young, Ms. Rosen, Mr. Gardner, and Ms. Sinema) introduced the following bill; which was read twice and referred to the Committee on Finance

A BILL

To amend the Internal Revenue Code of 1986 to extend the exclusion for employer-provided education assistance to employer payments of student loans.

Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,

SECTION 1. Short title.

This Act may be cited as the “Employer Participation in Repayment Act of 2019”.

SEC. 2. Exclusion for certain employer payments of student loans.

(a) In general.—Paragraph (1) of section 127(c) 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) Conforming amendment; denial of double benefit.—Paragraph (1) of section 221(e) of the Internal Revenue Code of 1986 is amended by inserting before the period the following: “, or for which an exclusion is allowable under section 127 to the taxpayer's employer by reason of the payment by such employer of any indebtedness on a qualified education loan of the taxpayer”.

(c) Effective date.—The amendments made by this section shall apply to payments made after December 31, 2019.