,i  #aacth ,,congress  #b;d ,session    
,h4 ,r4 #eegh  ,,in ,,the ,,house ,,of  
,,representatives  ,september #ah1 #bjad
 ,mr4 ,rodney ,davis of ,illinois       
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    
extend the exclusion for                
employer-provided educational assistance
 to employer payment of interest on     
certain refinanced student loans4  #a4  
,short title ,this ,act may be cited as 
the ,employer ,participation in         
,refinancing ,act4  #b4 ,exclusion for  
employer payment of interest on certain 
refinanced student loans  7a7 ,in       
general ,paragraph 7#a7 of section      
#abg7;c7 of the ,internal ,revenue ,code
 of #aihf is amended by striking and at 
the end of subparagraph 7,a71 by        
redesignating subparagraph 7,b7 as      
subparagraph 7,c71 and by inserting     
after subparagraph 7,a7 the following   
new subparagraph3  7,b7 the payment by  

an employer1 whether paid to the        
employee or to a lender1 of any         
indebtedness of the employee under a    
qualified education refinance loan or   
any interest relating to such a loan1   
and  4  7b7 ,qualified education        
refinance loan ,subsection 7c7 of       
section #abg of the ,internal ,revenue  
,code of #aihf is amended by adding at  
the end the following new paragraph3    
7#h7 ,qualified education refinance loan
 ,the term qualified education refinance
 loan means any indebtedness used solely
 to refinance a qualified education loan
 7within the meaning of section         
#bba7;d77#a77 with respect to which the 
lender offers the borrower protection in
 the event of unemployment or financial 
hardship 7as reasonably determined by   
the lender1 including periods of        
forbearance or career assistance74  4   
7c7 ,conforming amendment2 denial of    
double benefit ,paragraph 7#a7 of       
section #bba7;e7 of the ,internal       
,revenue ,code of #aihf is amended by   

inserting before the period the         
following3 1 or for which an exclusion  
is allowable under section #abg to the  
taxpayer's employer by reason of the    
payment by such employer of any         
indebtedness on a qualified education   
loan of the taxpayer4  7d7 ,effective   
date ,the amendments made by this       
section shall apply to expenses paid    
after ,december #ca1 #bjad4