US Congress House Bill 231 (Prior Session Legislation)

---

Spectrum: Partisan Bill (Democrat 4-0)
Status: Introduced on January 3 2019 - 25% progression, died in committee
Action: 2019-01-03 - Referred to the Committee on Education and Labor, and in addition to the Committees on Ways and Means, and Small Business, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Pending: House Education and Labor Committee
Text: Latest bill text (Introduced) [PDF]

Makes eligible for deferment and cancelation of student loan debt a recent graduate of a four-year institution of higher education (IHE) who works at certain small business start-ups in distressed areas. Specifically, it makes a student loan borrower who is an employee and founder of a start-up eligible for deferment and cancellation of student loans. In addition, the bill makes a full-time employee of a start-up eligible for cancelation of student loan debt. It also excludes from an individual's gross income, for income tax purposes, the amount of such canceled student loan debt. Finally, it establishes a young entrepreneurs business center within the Small Business Administration to certify small business start-ups, identify distressed areas, and approve loan cancellations. To be certified by the center, a start-up must (1) have a founder who is a recent graduate of a four-year IHE, and (2) employ a certain number of recent graduates.

Supporting America’s Young Entrepreneurs Act of 2019

Rep. Nydia Velazquez [D-NY]

Rep. Jose Serrano [D-NY]

Rep. Katie Hill [D-CA]

Rep. Chrissy Houlahan [D-PA]

Date	Chamber	Action
2019-01-03	House	Referred to the Committee on Education and Labor, and in addition to the Committees on Ways and Means, and Small Business, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
2019-01-03	House	Referred to the Committee on Education and Labor, and in addition to the Committees on Ways and Means, and Small Business, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
2019-01-03	House	Referred to the Committee on Education and Labor, and in addition to the Committees on Ways and Means, and Small Business, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
2019-01-03	House	Introduced in House

Type	Source
Summary	https://www.congress.gov/bill/116th-congress/house-bill/231/all-info
Text	https://www.congress.gov/116/bills/hr231/BILLS-116hr231ih.pdf