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To amend the Internal Revenue Code of 1986 to exempt qualified student loan bonds from the volume cap and the alternative minimum tax.
To amend the Internal Revenue Code of 1986 to exempt qualified student loan bonds from the volume cap and the alternative minimum tax.
Summary
The bill amends federal tax law to exempt qualified student loan bonds from two restrictions. First, it exempts such bonds from the "volume cap," which currently limits the amount of tax-exempt private activity bonds that states can issue. Second, it exempts qualified student loan bonds from the alternative minimum tax. The bill also provides a special rule for how pooled financing rules apply to qualified student loan bonds. The amendments apply to bonds issued after the bill's enactment.
AI-generated plain-language summary of the bill text — neutral, and may be imperfect. See the full text below for the exact wording.
Sponsor (1)
6 cosponsors
Money behind the sponsor
Top reported contributors to Randy Feenstra’s campaign committee (2024 cycle) — who funds the bill’s sponsor, not a claim about this bill. Data from FEC.
- NULL $38,384
- MARQUIS MANAGEMENT INC. $21,800
- BGR GROUP $15,800
- DOLL DISTRIBUTING $13,700
- FRONTIER BANK $13,450
Organizations whose employees gave the most — itemized individual contributions grouped by the donor’s reported employer (FEC Schedule A). Full finance for Randy Feenstra → · Outside spending →
Actions (2)
- Apr 7, 2025 Referred to the House Committee on Ways and Means. · house
- Apr 7, 2025 Introduced in House
Similar bills (6)
Bills with similar text or summary — includes reintroductions across Congresses. Ranked by semantic similarity of the bill text (computed locally); a neutral discovery aid, not a claim the bills are duplicates.
Text versions (1)
Bills are re-published as they move (Introduced → Reported → Engrossed → Enrolled …). Each stage below is a separate text; pick two to see what changed. Data from Congress.gov.
Full text
IN THE HOUSE OF REPRESENTATIVES
April 7, 2025
Mr. Feenstra 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 exempt qualified student loan bonds from the volume cap and the alternative minimum tax.
Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,
SECTION 1. QUALIFIED STUDENT LOAN BONDS EXEMPT FROM VOLUME CAP AND ALTERNATIVE MINIMUM TAX.
(a) Exemption From Volume Cap.—
(1) In general.—Section 146(g) 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:
“(2) any qualified student loan bond,”.
(2) Special rule for application of pooled financing bond rules.—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.—For purposes of subparagraph (A), in the case of any qualified student loan bond, the term ‘ultimate borrower’ shall not include any student borrower.”.
(3) Conforming amendment.—Section 146(g) of such Code is amended by striking “Paragraphs (4) and (5)” in the last sentence and inserting “Paragraphs (5) and (6)”.
(b) Exemption From Alternative Minimum Tax.—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) Exception for qualified student loan bonds.—For purposes of clause (i), the term ‘private activity bond’ 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. <all>
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