Text: S.2988 — 101st Congress (1989-1990)All Information (Except Text)

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S 2988 IS
101st CONGRESS
2d Session
S. 2988
To amend the Internal Revenue Code of 1986 to make the exclusion from gross
income of amounts paid for employee educational assistance permanent, and
for other purposes.
IN THE SENATE OF THE UNITED STATES
August 3 (legislative day, JULY 10), 1990
Mr. MOYNIHAN (for himself, Mr. HEINZ, Mr. BAUCUS, Mr. ROTH, Mr. BOREN,
Mr. DANFORTH, Mr. PRYOR, Mr. DURENBERGER, Mr. RIEGLE, Mr. ARMSTRONG, Mr. SYMMS,
Mr. SARBANES, Mr. WILSON, Mr. KENNEDY, Mr. COATS, Mr. HELMS, Mr. BURDICK,
Mr. BUMPERS, Mr. JOHNSTON, Mr. CRANSTON, Mr. SHELBY, Mr. JEFFORDS, Mr. KERRY,
Mr. DIXON, Mr. COCHRAN, Mr. BOND, Mr. BOSCHWITZ, Mr. DODD, Mr. LUGAR,
Mr. CONRAD, Mr. LAUTENBERG, Mr. INOUYE, Ms. MIKULSKI, Mr. LIEBERMAN,
Mr. SIMON, Mr. MURKOWSKI, Mr. REID, Mr. SANFORD, Mr. LOTT, Mr. HARKIN,
Mr. PELL, Mr. GRASSLEY, Mr. SIMPSON, Mr. GLENN, Mr. LEVIN, Mr. KASTEN,
Mr. HATFIELD, Mr. HOLLINGS, Mr. COHEN, Mr. NICKLES, Mr. BURNS, Mr. BINGAMAN,
Mr. AKAKA, Mr. D'AMATO, Mr. MACK, Mr. BIDEN, Mr. BRYAN, Mr. GORE, Mr. KERREY,
and Mr. HEFLIN) 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 make the exclusion from gross
income of amounts paid for employee educational assistance permanent, and
for other purposes.
  Be it enacted by the Senate and House of Representatives of the United
  States of America in Congress assembled,
SECTION 1. SHORT TITLE.
  This Act may be cited as the `Employee Educational Assistance Act of 1990'.
SEC. 2. EXCLUSION FOR EDUCATIONAL ASSISTANCE PROGRAMS.
  (a) Exclusion Made Permanent-
  (1) IN GENERAL- Section 127 of the Internal Revenue Code of 1986 (relating
  to educational assistance programs) is amended by striking subsection (d).
  (2) CONFORMING AMENDMENT- Section 7101(a) of the Revenue Reconciliation
  Act of 1989 is amended by striking paragraph (2).
  (b) Restrictions Relating to Education at the Graduate Level-
  (1) IN GENERAL- Paragraph (1) of section 127(c) of the Internal Rvenue
  Code of 1986 is amended by striking the last sentence.
  (2) CONFORMING AMENDMENT- Section 132(h)(9) of such Code (relating to
  application of section to otherwise taxable employer-provided educational
  assistance) is amended by striking `or the last sentence of subsection
  (c)(1) thereof'.
  (c) Effective Dates-
  PERMANENT EXCLUSION- The amendments made by subsection (a) shall apply to
  taxable years beginning after December 31, 1989.
  (2) GRADUATE LEVEL ASSISTANCE- The amendments made by subsection (b)
  shall apply to taxable years beginning after December 31, 1990.