Sec. 6. Increase of certain education debt repayments by Department of Veterans Affairs
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/bill/115/hr/3130/ih/section-6A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Section 7683(d)(1) of title 38, United States Code, is amended— by striking $120,000 and inserting $250,000 ; and by striking $24,000 and inserting $50,000 . 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 repayments under subchapter VII of chapter 76 of title 38, United States Code. . The amendment made by paragraph
(1)shall apply to payments made after the date of the enactment of this Act, in taxable years ending after such date.