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.
This bill modifies the tax code to allow dental school faculty to exclude certain federally subsidized loan repayment assistance from their taxable income. Specifically, it expands an existing tax exclusion that currently applies to some loan repayment programs to now include dentists and dental school faculty who receive loan repayment assistance through a federal Dental Faculty Development and Loan Repayment Program. The change takes effect for amounts received in tax years after the bill's enactment, meaning eligible dental faculty would not owe federal income tax on the repayment assistance they receive. Additionally, the bill directs the Government Accountability Office to study and report on how many dental providers participate in this program and whether they remain employed as full-time faculty in dental schools and clinics after receiving the assistance. The legislation aims to make dental school faculty positions more financially attractive by reducing the tax burden on loan repayment benefits.
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