,,ii  #aac? ,,congress  #b;d ,session   
,s4 #bhbg  ,,9 ,,! ,,s5ate ,,( ,,!      
,,unit$ ,,/ates  ,septemb] #af1 #bjad   
,mr4 ,blum5?al 7= himself & ,mr4        
,murphy7 introduc$ ! foll[+ bill2 :i* 0 
read twice & ref]r$ to ! ,committee on  
,f9ance  ,a ,,bill  ,to am5d section    
#aag ( ! ,int]nal ,rev5ue ,code ( #aihf 
to exclude ,f$]al /ud5t aid f taxable   
gross income4  #a4 ,%ort title ,?is ,act
 may be cit$ z ! ,make ,/ud5t ,grants   
,truly ,tax-,free ,act4  #b4 ,expansion 
( qualifi$ s*ol>%ip exclusion f gross   
income  7a7 ,9 g5]al ,p>agraph 7#a7 (   
section #aag7;b7 ( ! ,int]nal ,rev5ue   
,code ( #aihf is am5d$-- 7#a7 by /rik+  
receiv$ by an individual z a s*ol>%ip & 
ins]t+ receiv$ by an individual-- 7,a7 z
 a s*ol>%ip  1  7#b7 by /rik+ ! p]iod at
 ! end & ins]t+ a comma1 &  7#c7 by add+
 at ! end ! foll[+ new subp>agraphs3    
7,b7 ?r\gh a s*ol>%ip or fell[%ip grant 
program adm9i/]$ by ! ,secret>y (       
,education t is bas$ on f9ancial ne$1   
includ+ a ,f$]al ,pell ,grant "u section

 #dja ( ! ,high] ,education ,act ( #aife
 7#bj ,u4,s4,c4 #ajgj;a71 or  7,c7 z an 
,iraq & ,afghani/an ,s]vice ,grant "u   
section #dbj,r ( ! ,high] ,education    
,act ( #aife 7#bj ,u4,s4,c4 #ajgj;h74  4
  7b7 ,effective date ,! am5dm5ts made  
by ?is ,act %all apply to taxable ye>s  
beg9n+ aft] ,decemb] #ca1 #bjad4