[Congressional Bills 108th Congress]
[From the U.S. Government Publishing Office]
[S. 2048 Introduced in Senate (IS)]
108th CONGRESS
2d Session
S. 2048
To amend the Internal Revenue Code of 1986 to make permanent the
deduction for qualified tuition and related expenses and to repeal the
sunset of the Economic Growth and Tax Relief Reconciliation Act of 2001
with respect to such deduction.
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IN THE SENATE OF THE UNITED STATES
February 3, 2004
Mr. Grassley introduced the following bill; which was read twice and
referred to the Committee on Finance
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A BILL
To amend the Internal Revenue Code of 1986 to make permanent the
deduction for qualified tuition and related expenses and to repeal the
sunset of the Economic Growth and Tax Relief Reconciliation Act of 2001
with respect to such deduction.
Be it enacted by the Senate and House of Representatives of the
United States of America in Congress assembled,
SECTION 1. PERMANENT DEDUCTION FOR QUALIFIED TUITION AND RELATED
EXPENSES.
(a) Permanent Deduction.--
(1) In general.--Section 222 of the Internal Revenue Code
of 1986 (relating to qualified tuition and related expenses) is
amended by striking subsection (e).
(2) Conforming amendment.--Subparagraph (B) of section
222(b)(2) of such Code (relating to applicable dollar limit) is
amended by striking ``2004 and 2005.--In the case of a taxable
year beginning in 2004 or 2005,'' and inserting ``2004 and
thereafter.--In the case of any taxable year beginning after
2003,''.
(b) Repeal of Suspension.--Section 901 of the Economic Growth and
Tax Relief Reconciliation Act of 2001 is amended by adding at the end
the following new subsection:
``(c) Exception.--Subsection (a) shall not apply to the amendments
made by section 431 (relating to qualified tuition and related
expenses).''.
(c) Effective Date.--The amendments made by this section shall
apply to taxable years beginning after December 31, 2003.
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