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Tax Relief for Dental Faculty: Loan Repayments Excluded from Income.

This act aims to exclude certain federally subsidized loan repayments for dental school faculty from their taxable income. This means that dental faculty receiving assistance with their student loans from specific federal programs will not have to pay income tax on those amounts. The goal is to encourage and retain dental educators.
Key points
Money received for student loan repayments by dental faculty from federal programs will not be counted as taxable income.
This change applies to amounts received in tax years beginning after the act becomes law.
A report will be prepared to assess how the program affects dental faculty remaining in schools and clinics.
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Additional Information
Print number: 117_HR_1285
Sponsor: Rep. Clarke, Yvette D. [D-NY-9]
Process start date: 2021-02-24