S. 376 — Introduced in Senate

II 114th CONGRESS 1st Session S. 376 IN THE SENATE OF THE UNITED STATES February 4, 2015Mr. Kirk (for himself, Mr. Blunt, Mr. Durbin, Mr. Boozman, and Mr. Leahy) introduced the following bill; which was read twice and referred to the Committee on Finance A BILL To amend the Internal Revenue Code of 1986 to exclude payments received under the Work Colleges Program from gross income, including payments made from institutional funds. 1. Exclusion for amounts received under the Work Colleges Program (a) In general Paragraph (2) of section 117(c) of the Internal Revenue Code of 1986 is amended by striking or at the end of subparagraph (A), by striking the period at the end of subparagraph (B) and inserting , or, and by adding at the end the following new subparagraph: (C) a comprehensive student work-learning-service program (as defined in section 448(e) of the Higher Education Act of 1965) operated by a work college (as defined in such section). . (b) Effective date The amendments made by this section shall apply to amounts received in taxable years beginning after the date of the enactment of this Act.