S. 5533

Segal AmeriCorps Education Award Tax Relief Act of 2026

Sponsor: Michael F. Bennet

7 cosponsors
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Sec. 2. Exclusion from gross income of AmeriCorps educational awards

(a) In general. Paragraph (2) of section 117(c) of the Internal Revenue Code of 1986 is amended by striking or at the end of subparagraph (B), by striking the period at the end of subparagraph (C) and inserting , or, and by adding at the end the following new subparagraph:

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(D) a national service educational award under subtitle D of title I of the National and Community Service Act of 1990.

(b) Exclusion of discharge of student loan debt. Subsection (f) of section 108 of the Internal Revenue Code of 1986 is amended by adding at the end the following new paragraph:

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(6) Payments under national service educational award programs. In the case of an individual, gross income shall not include any amount received under a national service educational award under subtitle D of title I of the National and Community Service Act of 1990 (42 U.S.C. 12601 et seq.).

(c) Effective date. The amendments made by this section shall apply to taxable years ending after the date of the enactment of this Act.