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H.R. 2660119th CongressIn committeeLatest action Apr 7, 2025Decoded by AI · checked against the record
Official title: To amend the Internal Revenue Code of 1986 to exempt qualified student loan bonds from the volume cap and the alternative minimum tax.
Introduced:
Read the official bill on Congress.govThe plain-language version leads. The official text is always the reference.
HR 2660 removes the Alternative Minimum Tax and annual issuance caps on qualified student loan bonds issued by state and local governments.
55-second read · 4 questions answered below
HR 2660 eliminates two restrictions on qualified student loan bonds, which are securities issued by state and local governments to fund student lending programs. The bill removes the Alternative Minimum Tax on investor interest income from these bonds and lifts the annual cap limiting how many such bonds a state may issue. Both changes apply only to bonds issued after the law takes effect.
State and local housing finance and student loan agencies that issue these bonds are most directly affected, as are the investors who purchase them. College students who borrow through state-run loan programs may be indirectly affected, though the bill does not require any savings to be passed on to borrowers.
When investors owe no additional tax on bond interest, they typically accept lower interest rates, which could reduce what state agencies pay to borrow money. Removing the annual issuance cap means states would face less competition with other project types for permission to issue these bonds. The bill does not affect federal student loans administered by the Department of Education.
AI-drafted summary. Verify it against the official text before you act on it. Read the official bill on Congress.gov
Right now: a House committee is reviewing it. If the Senate changes it, it goes back to the House before reaching the President.
Latest action: — Referred to the House Committee on Ways and Means.