United States 114th Congress Status: Died 1 D cosponsors

HR 5382 — Student Loan Employment Benefits Act of 2016

Last action — Referred to the House Committee on Ways and Means.

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  1. ✓
    Introduced
  2. ✓
    In Committee
  3. Died in session

This bill died with 114th Congress. It reached “In Committee” and never advanced before the session ended, so it can no longer move — a new version would have to be reintroduced in the current session.

This bill is no longer active — its legislative session has ended, so there is no live prognosis. It would have to be reintroduced in the current session to move again.

Summary

Student Loan Employment Benefits Act of 2016 This bill amends the Internal Revenue Code to exclude from the gross income of an employee up to $5000 per year of the amounts paid by an employer under a student loan payment assistance program. The student loan payment assistance program must be a separate written plan of an employer to provide employees with student loan payment assistance which meets specified requirements. The bill defines "student loan payment assistance" as the payment of principal or interest on any indebtedness incurred by an employee solely to pay qualified higher education expenses which are paid or incurred within a reasonable time before or after such indebtedness was incurred and are attributable to education furnished during a period in which such employee was a student eligible for federal financial assistance. "Student loan payment assistance" also includes the payment of principal or interest on debt used to refinance the debt described above.

Bill Text

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Read HR 5382 on the official United States source →

Action History

  1. Referred to the House Committee on Ways and Means.

  2. Introduced in House

Sponsors

Sponsorship breakdown

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1 sponsors · 0 co-sponsors · 546 not signed on

Sponsors (1)

Co-sponsors (0)

None.

Not signed on (546)

546 members have not signed on to this bill.

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"Not signed on" means a member has not sponsored or co-sponsored this bill — it does not imply opposition. Members flagged Voted No have a recorded No vote on this bill.

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Subjects

taxation education
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Frequently asked questions

What does HR 5382 do?
Student Loan Employment Benefits Act of 2016 This bill amends the Internal Revenue Code to exclude from the gross income of an employee up to $5000 per year of the amounts paid by an employer under a student loan payment assistance program. The student loan payment assistance program must be a separate written plan of an employer to provide employees with student loan payment assistance which meets specified requirements. The bill defines "student loan payment assistance" as the payment of principal or interest on any indebtedness incurred by an employee solely to pay qualified higher education expenses which are paid or incurred within a reasonable time before or after such indebtedness was incurred and are attributable to education furnished during a period in which such employee was a student eligible for federal financial assistance. "Student loan payment assistance" also includes the payment of principal or interest on debt used to refinance the debt described above.
Who sponsors HR 5382?
HR 5382 is sponsored by Steve Israel (D).
What is the current status of HR 5382?
This bill died with 114th Congress. It reached “In Committee” and never advanced before the session ended, so it can no longer move — a new version would have to be reintroduced in the current session.
Where can I track HR 5382?
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