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S.953: Student Loan Affordability Act

About this Bill

This bill was introduced in the 113th Congress
This bill is primarily about taxation
You can read the bill
Sponsor Jack Reed, D-R.I.
Total Cosponsors 28 (27 Democrats, 1 Independent)
Introduced May 14, 2013
Latest Major Action June 6, 2013
See it on GovTrack
See it on C-SPAN

Bill Progress

  • Bill introduced in the Senate   
  • Bill passed in the Senate   
  • Bill passed in the House   
  • Bill signed into law

Bill Summary

Student Loan Affordability Act - Amends the Higher Education Act of 1965 to extend until June 30, 2015, existing interest rates for loans made to undergraduate students under the Federal Direct Stafford Loan program.

Amends the Internal Revenue Code to modify rules for required distributions from tax-exempt pension plans to an employee who dies before such employee's entire interest is distributed to require such interest to be distributed within five years after the death of such employee, subject to exceptions for an eligible designated beneficiary and surviving spouse of such employee. Defines "eligible designated beneficiary" to include a disabled or chronically-ill individual. Exempts from such modification a binding annuity contract in effect on the enactment date of this Act.

Amends the Internal Revenue Code to: (1) limit the deductibility of interest payments made by a corporation which is an expatriated entity to a related person; (2) expand the definition ...

(Source: Congressional Research Service)

Bill Actions

Date Description
June 6, 2013

Cloture on the motion to proceed to measure not invoked in Senate by Yea-Nay Vote. 51 - 46. Record Vote Number: 143. (consideration: CR S3977-3978)

June 4, 2013 Cloture motion on the motion to proceed to measure presented in Senate. (consideration: CR S3949; text: CR S3949)
June 4, 2013 Motion to proceed to consideration of measure, by unanimous consent, made in Senate. (consideration: CR S3949)
May 15, 2013 Read the second time. Placed on Senate Legislative Calendar under General Orders. Calendar No. 74.
May 14, 2013 Introduced in the Senate. Read the first time. Placed on Senate Legislative Calendar under Read the First Time.