Bill Summary
This legislation, known as the "Dental Loan Repayment Assistance Act", seeks to amend the Internal Revenue Code of 1986 by excluding certain federally subsidized loan repayments for dental school faculty from gross income. This means that these types of loan repayments, received through a loan repayment program funded by a grant or contract, will not be subject to federal income tax. The amendment will apply to taxable years after the date of enactment and a report will be required to assess the effectiveness of the Dental Faculty Development and Loan Repayment Program in retaining full-time dental faculty in teaching and practicing positions.
Possible Impacts
1. Under this legislation, dental faculty who have received federally subsidized loan repayments may be excluded from having to report these payments as taxable income. This could potentially benefit individuals by reducing their tax burden.
2. The legislation may also incentivize dental school faculty to remain in their positions for a certain amount of time in order to receive loan repayment assistance. This could potentially affect the career decisions of these individuals.
3. The GAO report mandated by this legislation could bring attention to the issue of dental faculty retention and the impact of loan repayment programs on this issue. This could potentially lead to further legislative action or changes in policy to address this issue.
[Congressional Bills 116th Congress]
[From the U.S. Government Publishing Office]
[H.R. 996 Introduced in House (IH)]
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116th CONGRESS
1st Session
H. R. 996
To amend the Internal Revenue Code of 1986 to exclude from gross income
certain federally subsidized loan repayments for dental school faculty.
_______________________________________________________________________
IN THE HOUSE OF REPRESENTATIVES
February 6, 2019
Ms. Clarke of New York (for herself, Mr. Gosar, Mr. Simpson, and Ms.
Meng) introduced the following bill; which was referred to the
Committee on Ways and Means, and in addition to the Committee on Energy
and Commerce, for a period to be subsequently determined by the
Speaker, in each case for consideration of such provisions as fall
within the jurisdiction of the committee concerned
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A BILL
To amend the Internal Revenue Code of 1986 to exclude from gross income
certain federally subsidized loan repayments for dental school faculty.
Be it enacted by the Senate and House of Representatives of the
United States of America in Congress assembled,
SECTION 1. SHORT TITLE.
This Act may be cited as the ``Dental Loan Repayment Assistance
Act''.
SEC. 2. EXCLUSION OF CERTAIN FEDERALLY SUBSIDIZED LOAN REPAYMENTS FOR
DENTAL SCHOOL FACULTY.
(a) In General.--Section 108(f)(4) of the Internal Revenue Code of
1986 is amended by inserting ``, under a loan repayment program
receiving a grant or contract under section 748(a)(2) of such Act''
after ``section 338I of such Act''.
(b) Conforming Amendment.--Section 108(f)(4) of the Internal
Revenue Code of 1986 is amended by striking ``National health service
corps loan repayment program and certain state loan repayment
programs'' in the heading thereof and inserting ``certain federal and
state loan repayment programs''.
(c) Effective Date.--The amendments made by this section shall
apply to amounts received in taxable years beginning after the date of
the enactment of this Act.
(d) GAO Report.--The Comptroller General of the United States shall
review and report to the appropriate committees of Congress on the
participation of dental providers and faculty in areas and schools
receiving funding from the Dental Faculty Development and Loan
Repayment Program under section 748(a)(2) of the Public Health Service
Act, including the extent to which they remain full-time faculty
teaching and practicing in dental clinics located in dental schools,
hospitals, or community-based affiliated sites after receiving funding
from the program.
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