,i  #aacth ,,congress  #b;d ,session    
,h4 ,r4 #djbj  ,,in ,,the ,,house ,,of  
,,representatives  ,february #f1 #bjad  
,ms4 ,pingree of ,maine introduced the  
following bill2 which was referred to   
the ,committee on ,ways and ,means  ,a  
,,bill  ,to amend the ,internal ,revenue
 ,code of #aihf to allow certain        
discharged student loan debt to be      
included in gross income ratably over   
#ae years and to disregard such income  
in determining eligibility for ,federal 
means-tested programs4  #a4 ,short title
 ,this ,act may be cited as the ,student
 ,loan ,forgiveness ,tax ,repayment ,act
 of #bjad4  #b4 #ae-year ratable        
inclusion of cancelled student loan debt
  7a7 ,in general ,subchapter ,q of     
chapter #a of the ,internal ,revenue    
,code of #aihf is amended by adding at  
the end the following new part3  ,,viii 
,ratable inclusion of certain income    
,sec4 #acea;,a4 #ae-year ratable        
inclusion of cancelled student loan     
debt4  #acea;,a4 #ae-year ratable       

inclusion of cancelled student loan debt
  7a7 ,in general ,in the case of any   
individual who elects the application of
 this section for any taxable year1 any 
amount which 7but for this section7     
would be includible in gross income for 
the taxable year by reason of the       
discharge 7in whole or in part7 of any  
student loan 7as defined by section     
#ajh7;f77#b77 by reason of death or     
disability shall be so included ratably 
over the #ae-taxable-year period        
beginning with the taxable year of such 
discharge4  7b7 ,limitation based on    
modified adjusted gross income  7#a7 ,in
 general ,the amount taken into account 
under subsection 7a7 shall not exceed   
the amount which 7but for this          
subsection7 would be so taken into      
account1 reduced by the excess 7if any7 
of--  7,a7 the modified adjusted gross  
income of the taxpayer for the taxable  
year of the discharge1 over  7,b7       
#hj1jjj 7#afj1jjj in the case of a joint
 return74  7#b7 ,modified adjusted gross

 income ,the term modified adjusted     
gross income means the adjusted gross   
income of the taxpayer for the taxable  
year determined--  7,a7 without regard  
to this section and sections #iaa1 #ica1
 and #icc1 and  7,b7 after the          
application of sections #hf1 #ace1 #acg1
 #aii1 #bai1 #bba1 #bbb1 and #dfi4  7c7 
,special rules  7#a7 ,death of student  
,in the case of any discharge of a      
student loan by reason of the death of  
an individual to whom the loan was made1
 no election under this section may be  
made by or on behalf of such individual4
  7#b7 ,election ,any election made     
under this section1 once made1 shall be 
irrevocable4  4  7b7 ,conforming        
amendments  7#a7 ,sections              
#hf7;b77#b77;,a71 #ace7;c77#d77;,a71    
#acg7;b77#c77;,a71 #bba7;b77#b77;,c77i71
 #bbb7;b77#b77;,c77i7 are each amended  
by striking and #icc and inserting #icc1
 and #acea;,a4  7#b7 ,section           
#aii7;d77#b77;,b7 of such ,code is      
amended by inserting and section        

#acea;,a before the period at the end4  
7#c7 ,section #bai7;g77#c77;,a77ii7 is  
amended by striking and #iaa and        
inserting #iaa1 and #acea;,a4  7#d7     
,section #dfi7;i77#c77;,f77iii7 of such 
,code is amended by striking and #bbb   
and inserting #bbb1 and #acea;,a4  7c7  
,clerical amendment ,the table of parts 
for subchapter ,q of chapter #a of such 
,code is amended by adding at the end   
the following new item3  ,part ,,viii4  
,ratable inclusion of certain income  4 
7d7 ,effective date ,the amendments made
 by this section shall apply to         
discharges of indebtedness after the    
date of the enactment of this ,act4  #c4
 ,student loan debt cancelled by reason 
of death or disability disregarded for  
,federal mean-tested programs ,the      
discharge of any student loan 7as       
defined by section #ajh7;f77#b7 of the  
,internal ,revenue ,code of #aihf7 by   
reason of death or disability1 and any  
income attributable thereto1 shall be   
disregarded for purposes of determining 

eligibility for any ,federal            
means-tested program4