To amend the Internal Revenue Code of 1986 to repeal the 60-month limitation period on the allowance of a deduction of interest on loans for higher education expenses.

1/16/2023, 11:33 PM
Amends the Internal Revenue Code to eliminate the 60-month limit on student loan interest deductions.
Congress
107
Number
HR - 686
Introduced on
2001-02-14
# Amendments
0
Sponsors
+5
Cosponsors
+5

Variations and Revisions

2/14/2001
Text
PDF

Status of Legislation

Bill Introduced
Introduced to House
House to Vote
Introduced to Senate
Senate to Vote

Purpose and Summary

Amends the Internal Revenue Code to eliminate the 60-month limit on student loan interest deductions.
Alternative Names
Official Title as IntroducedTo amend the Internal Revenue Code of 1986 to repeal the 60-month limitation period on the allowance of a deduction of interest on loans for higher education expenses.
Policy Areas
Taxation
Potential Impact
Education•
Finance and Financial Sector•
Higher education•
Income tax•
Interest•
Personal income tax•
Student loan funds•
Tax deductions

Comments

Related

Member:  Cynthia A. McKinney
Member:  Donald M. Payne
Member:  Karen L. Thurman
Member:  Jim Turner
Member:  Lynn C. Woolsey
Member:  James A. Traficant Jr.
Member:  Loretta Sanchez
Member:  Ron Paul
Member:  Ellen O. Tauscher
Member:  Lynn N. Rivers
Member:  George Miller
Member:  Major R. Owens
Member:  Robert A. Underwood
Member:  Bart Stupak
Member:  Hilda L. Solis
Member:  Ruben Hinojosa
Member:  Sam Farr
Member:  Earl F. Hilliard
Member:  Martin Frost
Member:  Bob Etheridge
Member:  Tom Lantos
Member:  John Conyers, Jr.
Member:  Jerry F. Costello
Member:  Zoe Lofgren
Member:  Carolyn C. Kilpatrick
Member:  Stephanie Tubbs Jones
Member:  Charles A. Gonzalez
Member:  Barney Frank
Member:  Jesse L. Jackson, Jr.
Member:  Gene Green
Member:  Chaka Fattah
Member:  Dennis J. Kucinich
Member:  Luis V. Gutierrez
Member:  Wm. Lacy Clay
Member:  Sue W. Kelly
Member:  Patsy T. Mink
Member:  Bob Clement
Member:  John Elias Baldacci
Member:  Thomas M. Barrett
Member:  Corrine Brown
Member:  Rick Boucher
Member:  Rod R. Blagojevich
Member:  Neil Abercrombie
Bill Update Alert:  Economic Growth and Tax Relief Reconciliation Act of 2001

Recent Activity

Latest Summary11/28/2006
Amends the Internal Revenue Code to eliminate the 60-month limit on student loan interest deductions.
Latest Action8/13/2001
See H.R.1836.