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Titles Actions Overview All Actions Cosponsors Committees Related Bills Subjects Latest Summary All Summaries

Titles (3)

Short Titles

Short Titles - House of Representatives

Short Titles as Introduced

HELP for Students and Parents Act
Higher Education Loan Payments for Students and Parents Act

Official Titles

Official Titles - House of Representatives

Official Title as Introduced

To amend the Internal Revenue Code of 1986 to provide incentives for employers to establish student loan repayment programs and to make contributions to qualified tuition programs on behalf of children of employees.


Actions Overview (1)

Date Actions Overview
03/21/2017Introduced in House

All Actions (2)

Date All Actions
03/21/2017Referred to the House Committee on Ways and Means.
Action By: House of Representatives
03/21/2017Introduced in House
Action By: House of Representatives

Cosponsors (8)


Committees (1)

Committees, subcommittees and links to reports associated with this bill are listed here, as well as the nature and date of committee activity and Congressional report number.

Committee / Subcommittee Date Activity Reports
House Ways and Means03/21/2017 Referred to

No related bill information was received for H.R.1656.


Subjects (7)


Latest Summary (1)

There is one summary for H.R.1656. View summaries

Shown Here:
Introduced in House (03/21/2017)

Higher Education Loan Payments for Students and Parents Act or the HELP for Students and Parents Act

This bill amends the Internal Revenue Code to expand the tax exclusion for employer-provided educational assistance programs to exclude from the gross income of an employee: (1) employer payments of principal or interest on loans for higher education expenses incurred by an employee, and (2) any qualified dependent 529 contributions made by the employer. (Under current law, the maximum exclusion for educational assistance programs is $5,250 per year.)

A "qualified dependent 529 contribution" is any amount contributed by an employer to a qualified tuition program the designated beneficiary of which is an employee's child who: (1) has not attained the age of 19 at the time of the contribution, or (2) is a student who has not attained the age of 24 at the time of the contribution.

The bill also allows a business tax credit for employer-provided higher education assistance, including: (1) 50% of the student loan repayment expenditures of the taxpayer for the year, and (2) 50% of the qualified dependent 529 contributions made by the taxpayer for the year. The amount taken into account for each expenditure with respect to any employee for any taxable year may not exceed $5,250.