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Tax Relief for AmeriCorps Education Awards: No Income Tax

This act exempts AmeriCorps education awards from federal income tax. This means individuals who served in AmeriCorps and received educational support will not have to pay income tax on these awards, increasing their real value.
Key points
AmeriCorps education awards will no longer be included in taxable income.
The change also applies to student loan debt discharged through AmeriCorps awards, meaning no tax on that amount.
The provisions are effective for taxable years ending after the act's enactment date.
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Additional Information
Segal AmeriCorps Education Award Tax Relief Act of 2021
Print number: S 2075
Sponsor: Sen. Bennet, Michael F. [D-CO]
Process start date: 2021-06-16