A bill to amend the Internal Revenue Code of 1954 with respect to the determination of whether scholarships under certain employer-related programs of private foundations will be treated as taxable expenditures under section 4945 of such Code.
Scholarship Program Assistance Act - Amends the Internal Revenue Code, with respect to exempting certain kinds of scholarship or fellowship grants from classification as taxable expenditures of a private foundation, to apply such exemption to a grant under an employer-related scholarship program where the number of such grants awarded during any year does not exceed 50 percent of the number of eligible individuals submitting applications for such grants.
Defines an "employer-related scholarship program" as one which: (1) provides grants for study at educational institutions eligible to receive tax deductible charitable contributions; and (2) limits the eligibility for all or a portion of such grants to employees of a particular employer (or group of employers), or to members of such employees' families.
Introduced in House
Introduced in House
Referred to House Committee on Ways and Means.
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