S.2988 - Employee Educational Assistance Act of 1990101st Congress (1989-1990)
|Sponsor:||Sen. Moynihan, Daniel Patrick [D-NY] (Introduced 08/03/1990)|
|Committees:||Senate - Finance|
|Latest Action:||Senate - 08/03/1990 Read twice and referred to the Committee on Finance. (All Actions)|
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Text: S.2988 — 101st Congress (1989-1990)All Information (Except Text)
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Introduced in Senate
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.