This bill helps people who receive educational awards from AmeriCorps by making those awards tax-free. It also ensures that related student loan forgiveness is not taxed, making it easier for individuals to benefit from their service.
If you serve in AmeriCorps, you won't have to pay taxes on your educational awards.
Who this affects
AmeriCorps members · student loan recipients
What changes is this bill making?
1This bill excludes AmeriCorps educational awards from taxable income.
2It allows individuals to receive these awards without paying taxes on them.
3The bill also excludes certain student loan debt discharges related to these awards from taxable income.
4These changes apply to awards received and debts discharged after the bill is enacted.
