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S. Rept. 114-22 1 (2015-04-14)

handle is hein.congrecreports/crptxsfr0001 and id is 1 raw text is: AUT-ENTICATED US. GOVERNMENT INFORMATION GP Calendar No. 45 114TH CONGRESS REPORT 1st Session SENATE 114-22 A BILL TO AMEND THE INTERNAL REVENUE CODE TO EXCLUDE AMOUNTS RECEIVED UNDER WORK-LEARNING SERVICE PROGRAMS APRIL 14, 2015.-Ordered to be printed Mr. HATCH, from the Committee on Finance, submitted the following REPORT [To accompany S. 912] The Committee on Finance, having considered an original bill, S. 912, to amend the Internal Revenue Code of 1986 to exclude pay- ments received under the Work Colleges Program from gross in- come, including payments made from institutional funds, having considered the same, reports favorably thereon without amendment and recommends that the bill do pass. CONTENTS Page I. LEGISLATIVE BACKGROUND .................................................................... . 1 II. EXPLANATION OF THE BILL ...................................................................... 2 A. Exclusion for Amounts Received Under the Work Colleges Pro- gram (sec. 1 of the bill, and sec. 117 of the Code) ......................... 2 B. Increase Continuous Levy Authority on Payments to Medicare Providers and Suppliers (sec. 2 of the bill and sec. 6331 of th e C ode) ............................................................................................ . 3 III. BUDGET EFFECTS OF THE BILL ............................................................. 5 IV. VOTES OF THE COMM ITTEE ..................................................................... 7 V. REGULATORY IMPACT AND OTHER MATTERS .................................... 7 VI. CHANGES IN EXISTING LAW MADE BY THE BILL, AS REPORTED 8 I. LEGISLATIVE BACKGROUND The Committee on Finance, having considered S. 912, a bill to amend the Internal Revenue Code of 1986 to exclude payments re- ceived under the Work Colleges Program from gross income, includ- ing payments made from institutional funds, reports favorably thereon without amendment and recommends that the bill do pass. Background and need for legislative action Background.-Based on a proposal recommended by Senator Burr, and based on legislation introduced by Senator Kirk both in 49-010

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