H2137B2482A03153 PWK:EJH 12/09/21 #90 A03153
AMENDMENTS TO HOUSE BILL NO. 2137
Sponsor: REPRESENTATIVE KIM
Printer's No. 2482
Amend Bill, page 1, lines 18 through 21, by striking out all
of said lines and inserting
(a.11) The following shall not be subject to tax under this
article:
(1) Any amount of principal and interest canceled by the
United States Secretary of Education under section 455(m) of the
Higher Education Act of 1965 (Public Law 89-329, 20 U.S.C.
1087e(m)).
(2) Any amount of principal and interest excluded as gross
income by reason of discharge during the exclusionary period
under Section 108(f)(5) of the Internal Revenue Code of 1986, as
amended by Section 9675 of Subtitle G of Title IX of the
American Rescue Plan Act of 2021 (Public Law 117-2, 135 Stat.
4). For the purposes of this clause, the phrase "exclusion
period" means the period of time after December 31, 2020, and
before January 1, 2026.
2021/90PWK/HB2137A03153 - 1 -
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16