Senate Bill 676
116th Congress(2019-2020)
Workforce Development Through Post-Graduation Scholarships Act of 2019
Introduced
Introduced in Senate on Mar 6, 2019
Origin Chamber
Senate
Type
Bill
Bill
The primary form of legislative measure used to propose law. Depending on the chamber of origin, bills begin with a designation of either H.R. or S. Joint resolution is another form of legislative measure used to propose law.
Bill Number
676
Congress
116
Policy Area
Taxation
Taxation
Primary focus of measure is all aspects of income, excise, property, inheritance, and employment taxes; tax administration and collection. Measures concerning state and local finance may fall under Economics and Public Finance policy area.
No Senate votes have been held for this bill.
Summary
Workforce Development Through Post-Graduation Scholarships Act of 2019
This bill modifies the requirements for calculating taxable income to exclude post-graduation scholarship grants from gross income in the same manner as scholarships are currently excluded.
A "post-graduation scholarship grant" is a grant provided by a program that
- is established by certain tax-exempt organizations;
- requires the grantee to live and work in an applicable community that meets certain requirements regarding income, out-migration, and bachelor's degree attainment rates; and
- under which, in accordance with the conditions of a grant, the organization repays any portion of an education loan incurred by an individual to pay higher education expenses.
In implementing this bill, the Department of the Treasury must prescribe specified regulations and meet reporting requirements. The Government Accountability Office must report on the post-graduation scholarship grants covered by this bill.
March 6, 2019
03/06/2019
Read twice and referred to the Committee on Finance.
03/06/2019
Introduced in Senate
Public Record
Record Updated
Nov 1, 2022 5:17:26 PM