A bill to amend the Internal Revenue Code of 1986 to exclude from taxable income any student loan forgiveness or discharge.
Student Loan Tax Relief Act
This bill modifies tax provisions allowing an exclusion from gross income for income arising from discharges of student loan debt after January 31, 2020. This includes loans for postsecondary educational expenses, private education loans, and loans made by tax-exempt educational organizations.
The bill eliminates the temporary expiration date for the exclusion and the death or total and permanent disability requirement for a discharge.
Became Public Law No: 117-2.
Referred to the House Committee on Ways and Means.
Introduced in Senate
Read twice and referred to the Committee on Finance.
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