1. Short title
This Act may be cited as the “Graduate Assistants Parity Act” or as the “GAP Act”.
Graduate Assistants Parity Act
A BILL
To amend the Internal Revenue Code of 1986 to allow graduate students to exclude tuition reductions from gross income.
2. Exclusion of tuition reductions from gross income of graduate students
In general— Section 117(d)(2) of the Internal Revenue Code of 1986 is amended by striking “(below the graduate level)”.
Conforming amendment— Section 117(d) of such Code is amended by striking paragraph (5).
Effective date— The amendments made by this section shall apply to amounts received in taxable years beginning after the date of the enactment of this Act.