Sec. 4. Peace Corps
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Title I of the Peace Corps Act is amended by adding at the end the following new section: There are authorized to be appropriated to carry out this Act— $432,777,778 for fiscal year 2018; $455,555,556 for fiscal year 2019; $501,111,112 for fiscal year 2020; $523,888,890 for fiscal year 2021; $546,666,000 for fiscal year 2022; $569,444,446 for fiscal year 2023; $592,222,224 for fiscal year 2024; and such sums as may be necessary each subsequent fiscal year. Amounts authorized to be appropriated pursuant to this section for a fiscal year are authorized to remain available for obligation through the end of the subsequent fiscal year. .
Section 5 of the Peace Corps Act ( 22 U.S.C. 2504 ) is amended— by inserting after subsection (c), the following: Upon completion of a satisfactory full term of service as a volunteer under this Act, as determined under Executive Order No. 11103, an individual shall receive an educational award in an amount equal to the lesser of— $21,970.46; or an amount equal to the in-State tuition to complete a program at a public institution of higher education in the State in which the individual is enrolled or accepted to be enrolled.
An educational award received under this subsection shall be used to repay Federal student loans or to pay for the cost of attendance at an institution of higher education. In this subsection: The President shall provide, on behalf of an individual, for the payment of interest that accrues during a period for which such individual has obtained forbearance in the repayment of a Federal student loan, if the individual has completed a satisfactory full term of service as a volunteer under this Act, as determined under Executive Order No. 11103.
In this section— The term institution of higher education has the meaning given the term in (section 102 of the Higher Education Act of 1965 ( 20 U.S.C. 1002 )). The Federal student loan has the meaning given the term qualified student loan under section 148(b)(7) of the National and Community Service Act of 1990 ( 42 U.S.C. 12604(b)(7) ). ; and by adding at the end the following: Under such regulations as the Office of Personnel Management may prescribe, an individual who has completed a satisfactory full term of service as a Peace Corps volunteer, as determined under Executive Order No. 11103, shall be eligible for appointment in the Federal competitive service as described under such order. .
Section 117 of the Internal Revenue Code of 1986, as amended by the preceding provisions of this Act, is amended by adding at the end the following new subsection: Gross income shall not include any loan repayment described in section 5(d) of the Peace Corps Act. . The amendment made by this subsection shall apply to taxable years ending after the date of the enactment of this Act.
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- EO 11103
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