US Congress House Bill 615 (Prior Session Legislation)

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Spectrum: Partisan Bill (Republican 1-0)
Status: Introduced on January 23 2017 - 25% progression, died in committee
Action: 2017-01-23 - Referred to the House Committee on Ways and Means.
Pending: House Ways And Means Committee
Text: Latest bill text (Introduced) [PDF]

Student Loan Repayment Act of 2017 This bill amends the Internal Revenue Code to allow a work opportunity tax credit for employers who hire a qualified student loan repayer. A "qualified student loan repayer" is any individual who is certified by the designated local agency as: (1) having at least an associate's degree, and (2) having outstanding education loans of at least $10,000. The bill also allows a business tax credit equal to 50% of the student loan program startup costs paid by employers during the year, subject to a limit of $500 per employee participating in the program. The credit applies to the ordinary and necessary expenses for the establishment or administration of a student loan repayment plan through which the employer provides specified annual matching contributions to each employee. The credit does not apply to payments made to, or on behalf of, any employee pursuant to the plan. An employer may claim the credit for three years if the employer has not established or maintained a plan for substantially the same employees during the three-year period immediately preceding the first year in which the credit is otherwise allowable.

Student Loan Repayment Act of 2017

Rep. Dennis Ross [R-FL]

Date	Chamber	Action
2017-01-23	House	Referred to the House Committee on Ways and Means.
2017-01-23	House	Introduced in House

Type	Source
Summary	https://www.congress.gov/bill/115th-congress/house-bill/615/all-info
Text	https://www.congress.gov/115/bills/hr615/BILLS-115hr615ih.pdf