Brady

The Higher Education Savings Act passed committee by UC.

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IN THE HOUSE OF REPRESENTATIVES

 

Mr. Seymour (for himself, Mr. Tilsley, Mr. Augustus King, Ms. Peterson,  Mr. Blackstone, Mr. Clay, Ms. DuBois-Granger, and Mr. Krol, with thanks to Mr. Kennedy) introduced the following bill;

A BILL

 

To increase access and affordability of higher education through tax savings incentives.

 

 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 “Higher Education Savings Act”.

 

SECTION 2. TAX EXCLUSION FOR HIGHER EDUCATION EXPENSES.

(a) The Internal Revenue Code is hereby amended to permit an income tax exclusion to a taxpayer who transfers a qualified U.S. savings bond to an eligible institution of higher education or vocational school to pay higher education expenses of the taxpayer, spouse, or dependent.

(b) The income tax exclusion established under subsection (a) of this section shall be the lesser of:

(i) the otherwise taxable amount involved in the transfer; or

(ii) the amount of the higher education expenses.

(c) "Higher education expenses" are defined as tuition, fees, books, supplies, and equipment costs that are associated with attendance of an eligible institution of higher education or vocational school.

 

SECTION 3. INFORMING THE PUBLIC OF EXCLUSION.

The Secretary of the Treasury shall advise the general public of the establishment of the tax exclusion for higher education expenses, established under this Act.

 

SECTION 4. CONFORMING CHANGES.

(a) The Secretary of the Treasury shall ensure that the type of transfer of U.S. savings bonds that would be necessary to effect the tax exclusions described in this act are hereby authorized and permitted.

(b) The Secretary of the Treasury shall ensure that the redemption of such bonds into cash by recipient eligible institutions of higher education and vocational schools are hereby authorized and permitted.

 

Section 2 et seq.

 

The Business Veterans Promotions Act passed committee by UC.

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Mr Marshall for himself introduces with thanks to Mr Kahuhu...

 

A BILL

 

To increase and enhance business opportunities and contracts with respect to federal agencies for veterans. 

 

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

 

 

Section 1. Short title

 

(a) This Act may be cited as the Business Veterans Promotion Act.

 

Section 2. Procurement Assistance

 

(a) The Small Business Act shall be amended to include small business concerns owned and controlled by veterans as a discrete group with respect to which the head of each Federal agency must establish goals for participation in procurement contracts.

(b) Businesses owned by veterans shall be included as a targeted group for purposes of Government contracts and subcontracts.

(c) Federal agencies shall be directed to, in their procurement activities, to engage in affirmative action to identify and solicit offers from small businesses owned and controlled by veterans and by veterans with service-connected disabilities.