,i #aafth ,,congress #ast ,session ,h4 ,r4 #cjii ,,in ,,the ,,house ,,of ,,representatives ,june #d1 #bjai,mr4 ,swalwell of ,california 7for himself1 ,mr4 ,gallego1 ,mr4 ,thompson of ,mississippi1 ,mr4 ,meeks1 ,mr4 ,rush1 ,ms4 ,jackson ,lee1 and ,mr4 ,cohen7 introduced the following bill2 which was referred to the ,committee on ,ways and ,means1 and in addition to the ,committee on ,education and ,labor1 for a period to be subsequently determined by the ,speaker1 in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned ,a ,,bill ,to provide for loan forgiveness for ,,stem teachers1 and for other purposes4 #a4 ,short title ,this ,act may be cited as the ,,stem ,k to ,career ,act4 #b4 ,loan ,forgiveness for ,,stem teachers ,part ,g of title ,,iv of the ,higher ,education ,act of #aife 7#bj ,u4,s4,c4 #ajhh et seq47 is amended by adding at the end the following3 #dic;,e4 ,loan forgiveness for ,,stem teachers 7a7 ,loan forgiveness authorized ,the ,secretary shall forgive1 in accordance with this section1 the qualified loan amount described in subsection 7c7 of the student loan obligation of a borrower who-- 7#a7 is employed as a full-time ,,stem teacher for service in an academic year 7including such a ,,stem teacher employed by an educational service agency7-- 7,a7 in a public or other nonprofit private elementary school or secondary school1 which1 for the purpose of this paragraph and for that year-- 7i7 has been determined by the ,secretary 7pursuant to regulations of the ,secretary and after consultation with the ,state educational agency of the ,state in which the school is located7 to be a school in which the number of children meeting a measure of poverty under section #aaac7;a77#e7 of the ,elementary and ,secondary ,education ,act of #aife1 exceeds #cj percent of the total number of children enrolled in such school2 and 7ii7 is in the school district of a local educational agency which is eligible in such year for assistance pursuant to part ,a of title ,i of the ,elementary and ,secondary ,education ,act of #aife2 or 7,b7 in one or more public1 or nonprofit private1 elementary schools or secondary schools or locations operated by an educational service agency that have been determined by the ,secretary 7pursuant to regulations of the ,secretary and after consultation with the ,state educational agency of the ,state in which the educational service agency operates7 to be a school or location at which the number of children taught who meet a measure of poverty under section #aaac7;a77#e7 of the ,elementary and ,secondary ,education ,act of #aife1 exceeds #cj percent of the total number of children taught at such school or location2 and 7#b7 is not in default on a loan for which the borrower seeks forgiveness4 7b7 ,method of loan forgiveness ,to provide loan forgiveness under subsection 7a71 the ,secretary shall carry out a program-- 7#a7 through the holder of the loan1 to assume the obligation to repay a qualified loan amount for a loan made1 insured1 or guaranteed under part ,b 7other than an excepted ,,plus loan or an excepted consolidation loan 7as such terms are defined in section #dic;,c7a7772 and 7#b7 to cancel a qualified loan amount for a loan made under part ,d 7other than an excepted ,,plus loan or an excepted consolidation loan74 7c7 ,qualified loan amount 7#a7 ,forgiveness of percentage of debt based on years of service ,for each complete year of service by a borrower as a ,,stem teacher in accordance with this section after the date of enactment of the ,,stem ,k to ,career ,act1 the ,secretary shall forgive the student loan obligation of the borrower at the rate of #ae percent of such obligation for the first or second year of such service1 #bj percent of such obligation for the third or fourth year of such service1 and #cj percent of such obligation for the fifth year of such service4 7#b7 ,principal and interest forgiven ,if a portion of a loan is forgiven under this section for any year1 the entire amount of interest on such loan which accrues for such year shall be forgiven4 7d7 ,special rules 7#a7 ,list of schools ,if the list of schools in which a ,,stem teacher may perform service pursuant to subsection 7a77#a7 is not available before ,may #a of any year1 the ,secretary may use the list for the year preceding the year for which the determination is made to make such service determination4 7#b7 ,continuing eligibility ,any teacher who performs service in a school which-- 7,a7 meets the requirements of subsection 7a77#a7 in any year2 and 7,b7 in a subsequent year fails to meet the requirements of such subsection1 may continue to teach in such school and shall be eligible for loan forgiveness pursuant to this section such subsequent years4 7#c7 ,promissory note conflicts ,an individual with an outstanding student loan obligation who performs service described in subsection 7a77#a7 in accordance with this section shall be eligible for forgiveness under this section for such service notwithstanding any contrary provision of the promissory note under which the loan or loans were made4 7#d7 ,forgiveness not considered income ,the amount of a loan1 and interest on a loan1 which is forgiven under this section shall not be considered income for purposes of the ,internal ,revenue ,code of #aihf4 7#e7 ,no refunds ,nothing in this subsection shall be construed to authorize refunding of any repayment of a loan4 7#f7 ,no double benefit ,no borrower may1 for the same service1 receive a benefit under both this section and subtitle ,d of title ,i of the ,national and ,community ,service ,act of #aiij 7#db ,u4,s4,c4 #abfja et seq474 7e7 ,regulations ,the ,secretary is authorized to issue such regulations as may be necessary to carry out this section4 7f7 ,definitions ,for the purposes of this section-- 7#a7 the term year where applied to service as a ,,stem teacher means academic year as defined by the ,secretary2 and 7#b7 the term ,,stem teacher means a teacher of science1 technology1 engineering1 or mathematics4 4 #c4 ,above-the-line-deduction for ,,stem education materials 7a7 ,in general ,section #fb7;a77#b77;,d7 of the ,internal ,revenue ,code of #aihf is amended by adding at the end the following flush matter3 ,in the case of taxable years beginning after ,december #ca1 #bjah1 the #bej amount in clause 7i7 shall be increased by an amount equal to so much of the amounts paid or incurred by the eligible educator for ,,stem education supplies as does not exceed #bej4 4 7b7 ,inflation adjustment ,section #fb7;d77#c7 of such ,code is amended to read as follows3 7#c7 ,inflation adjustment 7,a7 ,in general ,in the case of any taxable year beginning after #bjae1 the first #bej amount in subsection 7a77#b77;,d7 shall be increased by an amount equal to-- 7i7 such dollar amount1 multiplied by 7ii7 the cost-of-living adjustment determined under section #a7;f77#c7 for the calendar year in which the taxable year begins1 determined by substituting calendar year #bjad for calendar year #bjaf in subparagraph 7,a77ii7 thereof4 7,b7 ,,stem education supplies ,in the case of any taxable year beginning after #bjai1 the #bej amount in subsection 7a77#b77;,d7 shall be increased by an amount equal to-- 7i7 such dollar amount1 multiplied by 7ii7 the cost-of-living adjustment determined under section #a7;f77#c7 for the calendar year in which the taxable year begins1 determined by substituting calendar year #bjah for calendar year #bjaf in subparagraph 7,a77ii7 thereof4 7,c7 ,rounding ,any increase determined under subparagraph 7,a7 or 7,b7 shall be rounded to the nearest multiple of #ej4 4 7c7 ,,stem education supplies defined ,section #fb7;d7 of such ,code1 as amended by subsection 7b71 is amended by redesignating paragraphs 7#b7 and 7#c7 as paragraphs 7#c7 and 7#d71 respectively1 and by inserting after paragraph 7#a7 the following new paragraph3 7#b7 ,,stem education supplies ,for purposes of subsection 7a77#b77;,d71 the term ,,stem education supplies means expenses for books1 supplies1 equipment1 and other materials used in connection with teaching science1 technology1 engineering1 or math4 4 7d7 ,clerical amendment ,the heading for section #fb7;d7 of such ,code is amended by striking ,definition2 special rules and inserting ,elementary and secondary school teachers4 7e7 ,effective date ,the amendments made by this section shall apply to taxable years beginning after ,december #ca1 #bjah4 #d4 ,,stem internship tax credit 7a7 ,in general ,subpart ,d of part ,,iv of subchapter ,a of chapter #a of the ,internal ,revenue ,code of #aihf is amended by adding at the end the following new section3 #de,t4 ,,stem internship credit 7a7 ,general rule ,for purposes of section #ch1 in the case of an eligible employer1 the ,,stem internship credit determined under this section for the taxable year is equal to #b1jjj for each qualified ,,stem intern employed by the employer during the taxable year4 7b7 ,limitation ,the total amount of the credit allowed under subsection 7a7 to a taxpayer for a taxable year may not exceed #ej1jjj4 7c7 ,definitions ,for purposes of subsection 7a7-- 7#a7 ,qualified ,,stem intern ,the term qualified ,,stem intern means an individual who is employed under an internship program of an eligible employer under which-- 7,a7 each intern is paid not less than the wage in effect under section #f7;a7 of the ,fair ,labor ,standards ,act of #aich1 7,b7 each intern is employed for not less than #bj hours per week by the eligible employer in a position related to the career goals of the intern1 7,c7 each intern completes not less than #f weeks of employment with the eligible employer as an intern1 and 7,d7 each intern is a student who is enrolled full-time in a science1 technology1 engineering1 or math program 7including a program of study abroad approved for credit by the eligible institution at which such student is enrolled7 leading to a recognized undergraduate or graduate degree at an institution of higher education that is an eligible institution in accordance with the provisions of section #dhg of the ,higher ,education ,act of #aife 7#bj ,u4,s4,c4 #ajid7 and is not enrolled in an elementary or secondary school4 7#b7 ,eligible employer 7,a7 ,in general ,the term eligible employer means an employer who employed on average not more than #ejj full-time employees on business days during the preceding calendar year4 ,for purposes of the preceding sentence1 any individual with respect to whom a credit is allowed under this section shall not be taken into account4 7,b7 ,rules for determining employer size ,for purposes of subparagraph 7,a7-- 7i7 ,application of aggregation rule for employers ,all persons treated as a single employer under subsection 7b71 7c71 7m71 or 7o7 of section #dad shall be treated as #a employer4 7ii7 ,employers not in existence in preceding year ,in the case of an employer which was not in existence throughout the preceding calendar year1 the determination of whether such employer is an eligible employer shall be based on the average number of employees that it is reasonably expected such employer will employ on business days in the current calendar year4 7iii7 ,predecessors ,any reference in this paragraph to an employer shall include a reference to any predecessor of such employer4 4 7b7 ,credit made part of general business credit ,section #ch7;b7 of such ,code is amended by striking plus at the end of paragraph 7#ca71 by striking the period at the end of paragraph 7#cb7 and inserting 1 plus1 and by adding at the end the following new paragraph3 7#cc7 the ,,stem internship credit determined under section #de,t7a74 4 7c7 ,denial of double benefit ,section #bhj;,c7a7 of such ,code is amended by inserting #de,t7a71 after #de,s7a714 7d7 ,clerical amendment ,the table of sections for subpart ,d of part ,,iv of subchapter ,a of chapter #a of the ,internal ,revenue ,code of #aihf is amended by adding at the end the following new item3 ,sec4 #de,t4 ,,stem internship credit4 4 7e7 ,effective date ,the amendments made by this section shall apply to taxable years beginning after ,december #ca1 #bjah4 #e4 ,,stem apprenticeship tax credit 7a7 ,in general ,subpart ,d of part ,,iv of subchapter ,a of chapter #a of the ,internal ,revenue ,code of #aihf1 as amended by section #d1 is amended by adding at the end the following new section3 #de,u4 ,,stem apprenticeship credit 7a7 ,general rule ,for purposes of section #ch1 in the case of an eligible employer the ,,stem apprenticeship credit determined under this section for the taxable year is an amount equal to the taxpayer's aggregate ,,stem credit amount for the taxable year4 7b7 ,limitation ,the total amount of the credit allowed under subsection 7a7 to a taxpayer for a taxable year may not exceed #ej1jjj4 7c7 ,,stem credit amount ,for purposes of subsection 7a71 the ,,stem credit amount with respect to an individual shall be-- 7#a7 #b1jjj in the case of a new apprentice1 7#b7 #c1jjj in the case of a mid-career apprentice1 7#c7 #c1jjj in the case of a unemployed apprentice1 and 7#d7 #e1jjj in the case of a completed apprenticeship employee4 7d7 ,definitions ,for purposes of subsection 7a7-- 7#a7 ,eligible employer 7,a7 ,in general ,the term eligible employer means an employer who employed on average not more than #ejj full-time employees on business days during the preceding calendar year4 ,for purposes of the preceding sentence1 any individual with respect to whom a credit is allowed under this section shall not be taken into account4 7,b7 ,rules for determining employer size ,for purposes of subparagraph 7,a7-- 7i7 ,application of aggregation rule for employers ,all persons treated as a single employer under subsection 7b71 7c71 7m71 or 7o7 of section #dad shall be treated as #a employer4 7ii7 ,employers not in existence in preceding year ,in the case of an employer which was not in existence throughout the preceding calendar year1 the determination of whether such employer is an eligible employer shall be based on the average number of employees that it is reasonably expected such employer will employ on business days in the current calendar year4 7iii7 ,predecessors ,any reference in this paragraph to an employer shall include a reference to any predecessor of such employer4 7#b7 ,new apprentice ,the term new apprentice means an employee who1 with respect to an eligible employer-- 7,a7 completed during the taxable year a qualified apprenticeship program1 and 7,b7 prior to beginning the qualified apprenticeship program1 has not received compensation during the preceding #a-year period for services provided to the eligible employer4 7#c7 ,mid-career apprentice ,the term mid-career apprentice means an employee who-- 7,a7 prior to being employed by the eligible employer was either-- 7i7 employed in an industry sector different from the industry section the eligible employer is in1 as determined under regulations of the ,secretary1 or 7ii7 or was unemployed1 and 7,b7 completed during the taxable year a qualified apprenticeship program4 7#d7 ,completed apprenticeship employee ,the term completed apprenticeship employee means an employee who1 with respect to an eligible employer1 completed #a year of service with the eligible employer during the taxable year after completing a qualified apprenticeship program4 7#e7 ,qualified apprenticeship program ,the term qualified apprenticeship program means an apprenticeship program in a field of science1 technology1 engineering1 or math that is recognized under any program administered by the ,secretary of ,labor4 7#f7 ,unemployed ,an individual is unemployed if the individual is certified by the designated local agency as being in receipt of unemployment compensation under ,state or ,federal law for not less than #d weeks during the #a-year period ending on the hiring date4 7#g7 ,hiring date2 designated local agency ,the terms hiring date and designated local agency have the meanings given such terms by section #ea7;d77#aa7 and 7#ab71 respectively4 7e7 ,denial of double benefit ,no deduction or credit shall be allowed under any other provision of this chapter for any expenses paid or incurred with respect to an individual to the extent of the credit allowed under this section with respect to the individual4 4 7b7 ,credit made part of general business credit ,subsection 7b7 of section #ch of such ,code1 as amended by section #d1 is amended by striking plus at the end of paragraph 7#cb71 by striking the period at the end of paragraph 7#cc7 and inserting 1 plus1 and by adding at the end the following new paragraph3 7#cd7 the ,,stem apprenticeship credit determined under section #de,u7a74 4 7c7 ,denial of double benefit ,section #bhj;,c7a7 of such ,code is amended by inserting #de,u7a71 after #de,t7a714 7d7 ,clerical amendment ,the table of sections for subpart ,d of part ,,iv of subchapter ,a of chapter #a of the ,internal ,revenue ,code of #aihf is amended by adding at the end the following new item3 ,sec4 #de,u4 ,,stem apprenticeship credit4 4 7e7 ,effective date ,the amendments made by this section shall apply to taxable years beginning after ,december #ca1 #bjah4 #f4 ,mandatory minimum allocation of portion of ,federal ,work-,study program funds for ,,stem employment 7a7 ,mandatory ,minimum ,allocation for ,,stem ,employment ,section #ddc7;b77#b7 of the ,higher ,education ,act of #aife 7#bj ,u4,s4,c4 #bgec7;b77#b77 is amended-- 7#a7 by striking and at the end of subparagraph 7,a72 7#b7 by redesignating subparagraph 7,b7 as subparagraph 7,c72 and 7#c7 by inserting after subparagraph 7,a7 the following new subparagraph3 7,b7 for fiscal year #bjbj and succeeding fiscal years1 an institution shall use at least #g percent of the total amount of funds granted to such institution under this section for such fiscal year to compensate students employed in science1 technology1 engineering1 or mathematics1 except that the ,secretary may waive this subparagraph if the ,secretary determines that enforcing this subparagraph would cause hardship for students at the institution4 4 7b7 ,conforming ,amendment ,relating to ,off-,campus ,,stem ,employment for ,students at ,proprietary ,institutions of ,higher ,education ,section #ddc7;b77#h7 of such ,act 7#bj ,u4,s4,c4 #bgec7;b77#h77 is amended-- 7#a7 by striking or at the end of subparagraph 7,a72 7#b7 by adding or at the end of subparagraph 7,b72 and 7#c7 by adding at the end the following new subparagraph3 7,c7 in science1 technology1 engineering1 or mathematics1 in accordance with paragraph 7#b77;,b7 of this subsection2 4