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I
116TH CONGRESS
2D SESSION
H. R. 5863
To amend the Internal Revenue Code of 1986 to allow married couples
to apply the student loan interest deduction limitation separately to
each spouse, and for other purposes.
IN THE HOUSE OF REPRESENTATIVES
FEBRUARY 12, 2020
Mrs. HARTZLER (for herself, Mr. GARAMENDI, Mr. MEADOWS, Mr. NOR-
CROSS, Mr. STEWART, Mr. LARSEN of Washington, Mr. COLE, Mr.
COURTNEY, Mr. SMITH of Missouri, Mr. RIGGLEMAN, Mr. LAMBORN, Mr.
BUDD, Mr. NORMAN, Mr. BANKS, Mr. CLINE, Mr. SPANO, Mr.
GROTHMAN, Mr. YOHO, Mr. JOHNSON
of South Dakota, Mr.
LOUDERMILK, Mr. LAMALFA, Mr. DAVID P. ROE of Tennessee, Mr. FLO-
RES, Mr. MCKINLEY, Mr. KING of Iowa, and Mr. DUNCAN) introduced
the following bill; which was referred to the Committee on Ways and
Means
A BILL
To amend the Internal Revenue Code of 1986 to allow mar-
ried couples to apply the student loan interest deduction
limitation separately to each spouse, and for other pur-
poses.
Be it enacted by the Senate and House of Representa-
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tives of the United States of America in Congress assembled,
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•HR 5863 IH
SECTION 1. STUDENT LOAN INTEREST DEDUCTION LIMITA-
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TION
APPLIED
SEPARATELY
TO
EACH
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SPOUSE.
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(a) IN GENERAL.—Section 221(b)(1) of the Internal
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Revenue Code of 1986 is amended to read as follows:
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‘‘(1) IN GENERAL.—The interest taken into ac-
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count with respect to a taxpayer for a taxable year
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under subsection (a) for indebtedness incurred by an
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individual shall not exceed $2,500.’’.
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(b) CONFORMING AMENDMENTS.—Section 221 of
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such Code is amended—
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(1) in subsection (b), by striking the heading
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and inserting ‘‘DOLLAR LIMITATIONS’’, and
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(2) by amending subsection (e) to read as fol-
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lows:
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‘‘(e) DENIAL OF DOUBLE BENEFIT.—No deduction
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shall be allowed under this section for any amount for
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which a deduction is allowable under any other provision
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of this chapter.’’.
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(c) EFFECTIVE DATE.—The amendments made by
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this section shall apply to taxable years beginning after
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December 31, 2019.
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Æ
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