Dental Loan Repayment Assistance Act

II 117TH CONGRESS 1ST SESSION S. 449 To amend the Internal Revenue Code of 1986 to exclude from gross income certain federally subsidized loan repayments for dental school faculty. IN THE SENATE OF THE UNITED STATES FEBRUARY 25, 2021 Mr. CARDIN (for himself and Mr. WICKER) introduced the following bill; which was read twice and referred to the Committee on Finance A BILL To amend the Internal Revenue Code of 1986 to exclude from gross income certain federally subsidized loan re- payments for dental school faculty. Be it enacted by the Senate and House of Representa- 1 tives of the United States of America in Congress assembled, 2 SECTION 1. SHORT TITLE. 3 This Act may be cited as the ‘‘Dental Loan Repay- 4 ment Assistance Act’’. 5 SEC. 2. EXCLUSION OF CERTAIN FEDERALLY SUBSIDIZED 6 LOAN REPAYMENTS FOR DENTAL SCHOOL 7 FACULTY. 8 (a) IN GENERAL.—Section 108(f)(4) of the Internal 9 Revenue Code of 1986 is amended by inserting ‘‘, under 10 VerDate Sep 11 2014 20:53 Mar 25, 2021 Jkt 019200 PO 00000 Frm 00001 Fmt 6652 Sfmt 6201 E:\BILLS\S449.IS S449 2 •S 449 IS a loan repayment program receiving a grant or contract 1 under section 748(a)(2) of such Act’’ after ‘‘section 338I 2 of such Act’’. 3 (b) CONFORMING AMENDMENT.—Section 108(f)(4) 4 of the Internal Revenue Code of 1986 is amended by strik- 5 ing ‘‘NATIONAL HEALTH SERVICE CORPS LOAN REPAY- 6 MENT PROGRAM AND CERTAIN STATE LOAN REPAYMENT 7 PROGRAMS’’ in the heading thereof and inserting ‘‘CER- 8 TAIN FEDERAL AND STATE LOAN REPAYMENT PRO- 9 GRAMS’’. 10 (c) EFFECTIVE DATE.—The amendments made by 11 this section shall apply to amounts received in taxable 12 years beginning after the date of the enactment of this 13 Act. 14 (d) GAO REPORT.—The Comptroller General of the 15 United States shall review and report to the appropriate 16 committees of Congress on the participation of dental pro- 17 viders and faculty in areas and schools receiving funding 18 from the Dental Faculty Development and Loan Repay- 19 ment Program under section 748(a)(2) of the Public 20 Health Service Act (42 U.S.C. 293k–2(a)(2)), including 21 the extent to which they remain full-time faculty teaching 22 and practicing in dental clinics located in dental schools, 23 VerDate Sep 11 2014 03:35 Mar 18, 2021 Jkt 019200 PO 00000 Frm 00002 Fmt 6652 Sfmt 6201 E:\BILLS\S449.IS S449 3 •S 449 IS hospitals, or community-based affiliated sites after receiv- 1 ing funding from the program. 2 Æ VerDate Sep 11 2014 03:35 Mar 18, 2021 Jkt 019200 PO 00000 Frm 00003 Fmt 6652 Sfmt 6301 E:\BILLS\S449.IS S449