H.R. 1043 - Employer Participation in Repayment Act of 2019

116TH CONGRESS
1ST SESSION

H.R. 1043

To amend the Internal Revenue Code of 1986 to extend
the exclusion for employer-provided educational assistance
to employer payments of qualified education loans.

IN THE HOUSE OF REPRESENTATIVES

FEBRUARY 7, 2019

Mr. PETERS (for himself, Mr. RODNEY DAVIS of Illinois, Mr. BLUMENAUER,
Ms. STEFANIK, Mrs. MURPHY, Mr. SMITH of Missouri, Ms. MOORE, Mr. COLE,
Mr. BACON, Mr. BARR, Ms. BARRAGÁN, Mrs. BEATTY, Mr. BERA, Mr. BOST,
Mr. BRENDAN F. BOYLE of Pennsylvania, Mrs. BROOKS of Indiana,
Ms. BROWNLEY of California, Mr. BUCSHON, Mrs. BUSTOS, Mr. CARBAJAL,
Mr. CARSON of Indiana, Mr. CARTWRIGHT, Ms. JUDY CHU of California,
Mr. CICILLINE, Mr. COHEN, Mr. CONNOLLY, Mr. COOK, Mr. CRAWFORD,
Ms. DEAN, Ms. DELBENE, Mr. DELGADO, Mr. DESAULNIER, Mr. FITZPATRICK,
Mr. FOSTER, Mr. GALLEGO, Mr. GARAMENDI, Mr. GOMEZ, Mr. GROTHMAN,
Ms. HAALAND, Ms. HILL of California, Mr. HIMES, Mr. HUDSON, Mr. HURD
of Texas, Mr. JOYCE of Ohio, Mr. KATKO, Mr. KENNEDY, Mr. KHANNA,
Mr. KILMER, Mr. KING of New York, Mr. KINZINGER, Mrs. KIRKPATRICK,
Ms. KUSTER of New Hampshire, Mr. LAHOOD, Mr. LAMB, Mr. LEVIN
of California, Mr. TED LIEU of California, Mr. LOEBSACK, Ms. LOFGREN,
Mr. SEAN PATRICK MALONEY of New York, Mr. MARSHALL, Mrs. MCBATH,
Mr. MCEACHIN, Mr. MCGOVERN, Mr. MCKINLEY, Mr. MCNERNEY,
Mr. MITCHELL, Mr. MOULTON, Mrs. NAPOLITANO, Mr. O'HALLERAN,
Mr. PALLONE, Mr. PETERSON, Ms. PINGREE, Mr. QUIGLEY, Miss RICE
of New York, Mr. RIGGLEMAN, Mr. DAVID P. ROE of Tennessee, Mr. ROSE
of New York, Mr. ROUZER, Mr. RUPPERSBERGER, Mr. RYAN, Ms. SCANLON,
Mr. SCHRADER, Ms. SEWELL of Alabama, Ms. SLOTKIN, Mr. STANTON,
Mr. STIVERS, Mr. SWALWELL of California, Mr. TAKANO, Mr. TONKO,
Mrs. TORRES of California, Mrs. TRAHAN, Mr. TURNER, Mr. VARGAS,
Mr. WELCH, Ms. WILSON of Florida, Mr. WOMACK, Mr. LYNCH,
and Mr. HASTINGS) introduced the following bill; which was
referred to the Committee on Ways and Means

A BILL

To amend the Internal Revenue Code of 1986 to extend the exclusion for employer-provided educational assistance to employer payments of qualified education loans.

Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

This Act may be cited as the "Employer Participation in Repayment Act of 2019".

SEC. 2. EXCLUSION FOR EMPLOYER PAYMENT OF QUALIFIED EDUCATION LOANS.

(a) IN GENERAL. — Section 127(c)(1) of the Internal Revenue Code of 1986 is amended by striking "and" at the end of subparagraph (A), by redesignating subparagraph (B) as subparagraph (C), and by inserting after subparagraph (A) the following new subparagraph:

"(B) the payment by an employer, whether paid to the employee or to a lender, of principal or interest on any qualified education loan (as defined in section 221(d)(1)) incurred by the employee, and".

(b) DENIAL OF DOUBLE BENEFIT. — Section 221(e)(1) of such Code is amended by inserting before the period at the end the following: ", or for any amount which is excludable from gross income under section 127(c)(1)(B)".

(c) EFFECTIVE DATE. — The amendments made by this section shall apply to payments made by employers after December 31, 2019.