S. 2995

A bill to permanently extend the income tax deduction for college tuition expenses.

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II

108th CONGRESS

2nd Session

S. 2995

IN THE SENATE OF THE UNITED STATES

November 18, 2004

Mr. Schumer (for himself, Mr. Biden, and Mr. Durbin) introduced the following bill; which was read twice and referred to the Committee on Finance

A BILL

To permanently extend the income tax deduction for college tuition expenses.

1.

Permanent extension of tuition deduction

(a)

Repeal of termination clause

Section 222 of the Internal Revenue Code of 1986 is amended by striking subsection (e).

(b)

Effective date

The amendment made by this section shall apply to payments made in taxable years beginning after December 31, 2005.

(c)

Provision made permanent

Title IX of the Economic Growth and Tax Relief Reconciliation Act of 2001 (relating to sunset of provisions of such Act) shall not apply to section 431 of such Act.