,,ii  #aac? ,,congress  #b;d ,session   
,s4 #bhif  ,,9 ,,! ,,s5ate ,,( ,,!      
,,unit$ ,,/ates  ,septemb] #ah1 #bjad   
,ms4 ,coll9s 7= h]self & ,mr4 ,nelson7  
introduc$ ! foll[+ bill2 :i* 0 read     
twice & ref]r$ to ! ,committee on       
,f9ance  ,a ,,bill  ,to am5d title #ca1 
,unit$ ,/ates ,code1 to adju/ =         
inflation ! am\nt t is exempt f         
adm9i/rative (fsets by ! ,dep>tm5t (    
,education = default$ /ud5t loans4  #a4 
,%ort title ,?is ,act may be cit$ z !   
,social ,security ,g>ni%m5t             
,mod]nization ,act ( #bjad4  #b4        
,adju/m5t = inflation  7a7 ,9 g5]al     
,section #cgaf7;c77#c77;,a7 ( title #ca1
 ,unit$ ,/ates ,code1 is am5d$-- 7#a7 9 
clause 7ii71 by /rik+ ,an am\nt & ins]t+
 ,except z provid$ 9 clause 7iii71 an   
am\nt2 &  7#b7 by ins]t+ aft] ! matt]   
foll[+ clause 7ii77,,ii7 ! foll[+3      
7iii7 ,= a claim t may be collect$ "u   
?is section by ! ,dep>tm5t ( ,education 
relat+ to a default$ /ud5t loan "u "p   
,b1 ,d1 or ,e ( title ,,iv ( ! ,high]   

,education ,act ( #aife 7#bj ,u4,s4,c4  
#ajga et seq41 #ajhg;a et seq41 &       
#ajhg;aa et seq471 ! am\nt ( paym5ts due
 to an individual "u ! ,social ,security
 ,act t is exempt f (fset "u ?is        
subsection %all be equal to ! exemption 
am\nt "u clause 7ii71 z adju/$ annually 
to reflect increases 9 ! ,consum] ,price
 ,index = ,urban ,wage ,e>n]s & ,cl]ical
 ,work]s publi%$ by ! ,bureau ( ,labor  
,/ati/ics ( ! ,dep>tm5t ( ,labor4  4    
7b7 ,effective date ,! am5dm5ts made by 
subsection 7a7 %all-- 7#a7 take effect z
 if includ$ 9 ! enactm5t ( ! ,omnibus   
,consolidat$ ,rescissions &             
,appropriations ,act ( #aiif 7,public   
,law #ajd-acd2 #aaj ,/at4 #acba72 &     
7#b7 only apply ) respect to a claim    
describ$ 9 section                      
#cgaf7;c77#c77;,a77iii7 ( title #ca1    
,unit$ ,/ates ,code1 z add$ by          
subsection 7a77#b71 t may be collect$ by
 adm9i/rative (fset by ! ,dep>tm5t (    
,education "u section #cgaf ( su* title 
aft] ! date ( enactm5t ( ?is ,act4