Veterans Equitable Taxation of Student Loans Act or the V.E.T. Student Loans Act
This bill excludes from the gross income of veterans, for income tax purposes, income attributable to the discharge of student loan debt. The exclusion is permanent and is retroactive beginning in 2001.
To amend the Internal Revenue Code of 1986 to retroactively and 
  perpetually apply the exclusion of discharged student loan debt for 
 veterans killed or totally and permanently disabled in connection to 
                  their service to the United States.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Veterans Equitable Taxation of 
Student Loans Act'' or the ``V.E.T. Student Loans Act''.

SEC. 2. EXCLUSION OF DISCHARGED STUDENT LOAN DEBT FROM GROSS INCOME OF 
              VETERANS.

    (a) In General.--Section 108(f) of the Internal Revenue Code of 
1986 is amended by adding at the end the following new paragraph:
            ``(6) Special rule for veterans.--In the case of a taxpayer 
        who is a veteran of the Armed Forces of the United States, 
        paragraph (5) shall be applied by substituting `after December 
        31, 2000' for `after December 31, 2020, and before January 1, 
        2026'.''.
    (b) Effective Date.--The amendment made by this section shall take 
effect as if included in section 9675 of the American Rescue Plan Act 
of 2021.
                                 <all>
V.E.T. Student Loans Act
To amend the Internal Revenue Code of 1986 to retroactively and perpetually apply the exclusion of discharged student loan debt for veterans killed or totally and permanently disabled in connection to their service to the United States.
V.E.T. Student Loans Act
Veterans Equitable Taxation of Student Loans Act
Rep. Neguse, Joe