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  • S. 2525

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    This bill aims to amend the Internal Revenue Code to exclude payments received under the Work Colleges Program from gross income, including payments made from institutional funds. Specifically, it proposes adding payments received from comprehensive work-learning-service programs operated by work colleges, as defined by the Higher Education Act, to the list of exclusions from gross income under section 117(c) of the tax code. If passed, these amendments would apply to amounts received in taxable years beginning after the date of enactment.

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    S. 2525

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    This bill aims to amend the Internal Revenue Code to exclude payments received under the Work Colleges Program from gross income, including payments made from institutional funds. Specifically, it proposes adding payments received from comprehensive work-learning-service programs operated by work colleges, as defined by the Higher Education Act, to the list of exclusions from gross income under section 117(c) of the tax code. If passed, these amendments would apply to amounts received in taxable years beginning after the date of enactment.

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    © All Rights Reserved
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    3K views2 pages

    S. 2525

    Uploaded by

    kirkilsen
    This bill aims to amend the Internal Revenue Code to exclude payments received under the Work Colleges Program from gross income, including payments made from institutional funds. Specifically, it proposes adding payments received from comprehensive work-learning-service programs operated by work colleges, as defined by the Higher Education Act, to the list of exclusions from gross income under section 117(c) of the tax code. If passed, these amendments would apply to amounts received in taxable years beginning after the date of enactment.

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    of 2

    II

    113TH CONGRESS
    2D SESSION

    S. 2525

    To amend the Internal Revenue Code of 1986 to exclude payments received


    under the Work Colleges Program from gross income, including payments
    made from institutional funds.

    IN THE SENATE OF THE UNITED STATES


    JUNE 25, 2014
    Mr. KIRK (for himself and Mr. BLUNT) introduced the following bill; which
    was read twice and referred to the Committee on Finance

    A BILL
    To amend the Internal Revenue Code of 1986 to exclude
    payments received under the Work Colleges Program
    from gross income, including payments made from institutional funds.
    1

    Be it enacted by the Senate and House of Representa-

    2 tives of the United States of America in Congress assembled,


    3

    SECTION 1. EXCLUSION FOR AMOUNTS RECEIVED UNDER

    THE WORK COLLEGES PROGRAM.

    tjames@gpo.gov on DSK5VPTVN1PROD with BILLS

    (a) IN GENERAL.Paragraph (2) of section 117(c)

    6 of the Internal Revenue Code of 1986 is amended by strik7 ing or at the end of subparagraph (A), by striking the
    8 period at the end of subparagraph (B) and inserting ,

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    1 or, and by adding at the end the following new subpara2 graph:
    3

    (C) a comprehensive work-learning-service

    program (as defined in section 448(e) of the

    Higher Education Act of 1965) operated by a

    work college (as defined in such section)..

    (b) EFFECTIVE DATE.The amendments made by

    8 this section shall apply to amounts received in taxable


    9 years beginning after the date of the enactment of this
    10 Act.

    tjames@gpo.gov on DSK5VPTVN1PROD with BILLS

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