Section 1 Short title
This Act may be cited as the “Pell Grant Flexibility Act of 2017”.
Pell Grant Flexibility Act of 2017
A BILL
To amend the Internal Revenue Code of 1986 to exclude Federal Pell Grants from gross income.
Sec. 2 Exclusion of Federal Pell Grants from gross income
In general— Section 117 of the Internal Revenue Code of 1986 is amended by adding at the end the following new subsection:
“(e) Federal Pell Grants—Gross income does not include any amount received as a Federal Pell Grant awarded under subpart 1 of part A of title IV of the Higher Education Act of 1965 (20 U.S.C. 1070a).”
Effective date— The amendment made by this section shall apply to amounts received in taxable years beginning after December 31, 2016.