S3487-118

1. Short title This Act may be cited as the Segal AmeriCorps Education Award Tax Relief Act of 2023.

2. Exclusion from gross income of AmeriCorps educational awards Paragraph (2) of section 117(c) of the Internal Revenue Code of 1986 is amended by striking or at the end of subparagraph (B), by striking the period at the end of subparagraph (C) and inserting , or, and by adding at the end the following new subparagraph: a national service educational award under subtitle D of title I of the National and Community Service Act of 1990. Subsection (f) of section 108 of the Internal Revenue Code of 1986 is amended by adding at the end the following new paragraph: In the case of an individual, gross income shall not include any amount received under a national service educational award under subtitle D of title I of the National and Community Service Act of 1990 (42 U.S.C. 12601 et seq.). The amendments made by this section shall apply to taxable years ending after the date of the enactment of this Act. (D)a national service educational award under subtitle D of title I of the National and Community Service Act of 1990.. (6)Payments under national service educational award programsIn the case of an individual, gross income shall not include any amount received under a national service educational award under subtitle D of title I of the National and Community Service Act of 1990 (42 U.S.C. 12601 et seq.)..