Reigniting Opportunity for Innovators Act
Bill journey · stage 2 of 5
Under committee review
What it doesSummary introduced in senate (Nov 17, 2020)
Reigniting Opportunity for Innovators Act
This bill makes qualified founders and full-time employees of small business start-ups eligible to defer payments on their Federal Direct Loans for up to three years.
If the start-up is located in an economically distressed area, qualified founders and employees are also eligible for loan cancellation of up to $20,000.
The bill also excludes from an individual's gross income, for tax purposes, the amount of such canceled student loan debt.
What just happenedNov 17, 2020
Read twice and referred to the Committee on Finance.
Who’s behind it
- Introduced in SenateNov 17, 2020
- Nov 17, 2020IntroReferral
Read twice and referred to the Committee on Finance.
Finance Committee - Nov 17, 2020IntroReferral10000
Introduced in Senate