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S 2897 United States Senate · 117th Congress

NIL Scholarship Tax Act

Summary
NIL Scholarship Tax Act This bill denies the tax exclusion for qualified scholarships income to recipients of athletic scholarships at institutions of higher education who receive income in excess of $20,000 from their name, image or likeness in a taxable year.
Issues: ✓ Budget & TaxesSupports Budget & TaxesDenies tax exclusion for NIL scholarship income, closing a tax loophole to increase revenue per bill's tax treatment change.90% confidence ✗ EducationOpposes EducationBill restricts tax exclusion for athletic scholarship recipients exceeding $20k in NIL income, reducing financial benefits for higher education students.95% confidence
Bill status in committee 1 of 4 stages cleared
Introduction
Sep 2021
Committee Review
Floor Vote
President
Introduced Sep 29, 2021 Last action Sep 29, 2021
Floor votes

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Full legislative history

Actions timeline

Total actions
2
Key actions
0
Committee
1
Sep 29, 2021
Committee
Read twice and referred to the Committee on Finance.
upper
Sep 29, 2021
Introduced
Introduced in Senate
upper
1 primary · 0 co-sponsors

Sponsors

Role
Legislator
Party
State
District
P
Photo of Richard Burr
Richard Burr
RRepublican
NC
n/a