H.R. 2660
119th CONGRESS 1st Session
To amend the Internal Revenue Code of 1986 to exempt qualified student loan bonds from the volume cap and the alternative minimum tax.
IN THE HOUSE OF REPRESENTATIVES · April 7, 2025 · Sponsor: Mr. Feenstra · Committee: Committee on Ways and Means
Table of contents
SEC. 1. Qualified student loan bonds exempt from volume cap and alternative minimum tax
- (a) Exemption from volume cap
- (1) In general
- of the Internal Revenue Code of 1986 is amended by redesignating paragraphs (2) through (6) as paragraphs (3) through (7), respectively, and by inserting after paragraph (1) the following new paragraph: Section 146(g)
- any qualified student loan bond,
- of the Internal Revenue Code of 1986 is amended by redesignating paragraphs (2) through (6) as paragraphs (3) through (7), respectively, and by inserting after paragraph (1) the following new paragraph: Section 146(g)
- (2) Special rule for application of pooled financing bond rules
- (C) Special rule for qualified student loan bonds
- For purposes of subparagraph (A), in the case of any qualified student loan bond, the term shall not include any student borrower.
ultimate borrower
- For purposes of subparagraph (A), in the case of any qualified student loan bond, the term shall not include any student borrower.
- Section 149(f)(6) of such Code is amended by adding at the end the following new subparagraph:
- (C) Special rule for qualified student loan bonds
- (3) Conforming amendment
- Section 146(g) of such Code is amended by striking in the last sentence and inserting
Paragraphs (5) and (6).
- Section 146(g) of such Code is amended by striking in the last sentence and inserting
- (1) In general
- (b) Exemption from alternative minimum tax
- (iv) For purposes of clause (i), the term shall not include any bond issued after the date of the enactment of this clause if such bond is a qualified student loan bond (as defined in section 144(b)). The preceding sentence shall not apply to any refunding bond unless such preceding sentence applied to the refunded bond (or in the case of a series of refundings, the original bond).
private activity bond - Section 57(a)(5)(C) of such Code is amended by redesignating clauses (iv), (v), and (vi) as clauses (v), (vi), and (vii), respectively, and by inserting after clause (iii) the following new clause:
- (iv) For purposes of clause (i), the term shall not include any bond issued after the date of the enactment of this clause if such bond is a qualified student loan bond (as defined in section 144(b)). The preceding sentence shall not apply to any refunding bond unless such preceding sentence applied to the refunded bond (or in the case of a series of refundings, the original bond).
- (c) Effective dates
- The amendments made by this section shall apply to obligations issued after the date of the enactment of this Act.