S. 912 — Placed on Calendar (Senate)

II Calendar No. 45 114th CONGRESS 1st Session S. 912 [Report No. 114–22] IN THE SENATE OF THE UNITED STATES April 14, 2015Mr. Hatch, from the Committee on Finance, reported the following original bill; which was read twice and placed on the calendar 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. 2. Increase in continuous levy (a) In general Paragraph (3) of section 6331(h) of the Internal Revenue Code of 1986 is amended by striking 30 percent and inserting 35 percent. (b) Effective date The amendment made by this section shall apply to payments made after 180 days after the date of the enactment of this Act. April 14, 2015Read twice and placed on the calendar