A bill to amend section 117 of the Internal Revenue Code of 1954 to exclude from gross income up to $300 per month of scholarships and fellowship grants for which the performance of services is required.

Excludes from gross income under the Internal Revenue Code up to $300 per month of scholarships and fellowship grants for which the performance of teaching, research or other services is required. (Amends 26 U.S.C. 117(b)(1))