Protecting American Students Act

Bill 119 hr 1905, also known as the "Student Exclusion Act," aims to make changes to the Internal Revenue Code of 1986 in order to exclude certain students from the calculation used to determine if certain private colleges and universities are subject to the excise tax on net investment income.

The bill specifically targets students who receive financial aid in the form of scholarships or grants, and seeks to exclude their income from being counted towards the total net investment income of the institution. This exclusion would help alleviate the financial burden on colleges and universities that provide financial aid to students, as their income would not be factored into the calculation for the excise tax.

In addition to excluding certain students from the calculation, the bill also includes provisions for other purposes related to the excise tax on net investment income. Overall, the Student Exclusion Act aims to provide relief to private colleges and universities that offer financial aid to students, by excluding their income from the calculation used to determine if they are subject to the excise tax on net investment income.