Sec. 5. Disclosure of tax return information to carry out income contingent repayment of student loans
351 words·~2 min read·
/bill/114/hr/5962/ih/section-5A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Section 6103(l)(13) of the Internal Revenue Code of 1986 is amended by striking subparagraph (D). Section 6103(l)(13) of such Code, as amended by subsection (a), is amended by redesignating subparagraph
(C)as subparagraph
(D)and by inserting after subparagraph
(B)the following new subparagraph: Officers and employees of the Department of Education may disclose the information described in subparagraph
(A)to contractors of the Department of Education to the extent necessary for the purposes described in subparagraph (B). . Section 6103(a)(3) of such Code is amended by inserting (13), after (12), . Section 6103(p)(4) of such Code is amended by inserting (13), after (l)(10), each place it occurs. Section 6103(l)(13)(A) of such Code is amended by striking and at the end of clause (ii), by striking the period at the end of clause
(iii)and inserting , and , and by inserting after clause
(iii)the following: the personal exemptions of such taxpayer provided by section 151. . Section 6103(l)(13)(B) of such Code is amended— by striking to the extent necessary in, establishing and inserting to the extent necessary in— establishing , by striking the period at the end and inserting , and , and by adding at the end the following new clause: enrolling borrowers who are at least 120 days delinquent on a loan in an income-driven repayment plan (as defined in section 455(d)(7) of the Higher Education Act of 1965). . Section 6103(l)(13)(B)(i) of such Code, as amended by subsection (d), is amended by inserting (including annual recertification) after applicable student loan . Section 6103(l)(13)(D), as amended by subsections
(a)and (b), is amended by striking and at the end of clause (i), by striking the period at the end of clause
(ii)and inserting , and , and by adding at the end the following new clause: with respect to any annual recertification referred to in subparagraph (B)(i), any loan made under part B or D of title IV of the Higher Education Act of 1965. . The amendments made by this section shall apply to disclosures made after the date of the enactment of this Act.