,i  #aadth ,,congress  #b;d ,session    
,h4 ,r4 #eaia  ,,in ,,the ,,house ,,of  
,,representatives  ,may #aa1 #bjaf ,mr4 
,dold 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
 provide incentives for employers to    
establish student loan repayment        
programs and to make contributions to   
qualified tuition programs on behalf of 
children of employees4  #a4 ,short title
 ,this ,act may be cited as the ,higher 
,education ,loan ,payments for ,students
 and ,parents ,act or the ,,help for    
,students and ,parents ,act4  #b4       
,exclusion for employer payment of      
qualified education loans and certain   
qualified tuition plan contributions    
7a7 ,in general ,section #abg7;c77#a7 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,d71 
and by inserting after subparagraph 7,a7

 the following new subparagraphs3  7,b7 
the payment by an employer of principal 
or interest on any qualified education  
loan 7as defined in section             
#bba7;d77#a77 incurred by the employee1 
7,c7 any qualified dependent #ebi       
contributions 7as defined in section    
#de,s7d77 made by the employer1 and  4  
7b7 ,effective date ,the amendments made
 by this section shall apply to payments
 made by employers after ,december #ca1 
#bjaf4  #c4 ,employer provided higher   
education assistance credit  7a7 ,in    
general ,subpart ,d of part ,,iv of     
subchapter ,a of chapter #a of the      
,internal ,revenue ,code of #aihf is    
amended by adding at the end the        
following new section3  #de,s4          
,employer-provided higher education     
assistance credit  7a7 ,in general ,for 
purposes of section #ch1 the            
employer-provided higher education      
assistance credit determined under this 
section for the taxable year is an      
amount equal to the sum of--  7#a7 #ej  

percent of the student loan repayment   
expenditures of the taxpayer for the    
taxable year1 and  7#b7 #ej percent of  
the qualified dependent #ebi            
contributions made by the taxpayer for  
the taxable year4  7b7 ,dollar          
limitation ,the amount taken into       
account under each of paragraphs 7#a7   
and 7#b7 with respect to any employee   
for any taxable year shall not exceed   
#e1bej4  7c7 ,student loan repayment    
expenditure ,for purposes of this       
section1 the term student loan repayment
 expenditure means any amount paid by an
 employer for principal or interest on  
any qualified education loan 7as defined
 in section #bba7;d77#a77 incurred by an
 employee4  7d7 ,qualified dependent    
#ebi contribution ,for purposes of this 
section-- 7#a7 ,in general ,the term    
qualified dependent #ebi contribution   
means any amount contributed by an      
employer to a qualified tuition program 
the designated beneficiary of which is a
 qualifying child of an employee4  7#b7 

,qualifying child ,the term qualifying  
child means a child who-- 7,a7 has not  
attained the age of #ai at the time of  
the contribution1 or  7,b7 is a student 
who has not attained the age of #bd at  
the time of the contribution4  7e7      
,special rules  7#a7 ,self-employed     
individuals ,the term employee includes 
for any year1 an individual who is an   
employee within the meaning of section  
#dja7;c77#a7 7relating to self-employed 
individuals74  7#b7 ,employer ,an       
individual who owns the entire interest 
in an unincorporated trade or business  
shall be treated as his own employer4 ,a
 partnership shall be treated as the    
employer of each partner who is an      
employee within the meaning of paragraph
 7#b74  4  7b7 ,credit part of general  
business credit ,section #ch7;b7 of such
 ,code is amended by striking plus at   
the end of paragraph 7#ce71 by striking 
the period at the end of paragraph 7#cf7
 and inserting 1 plus1 and by adding at 
the end the following new paragraph3    

7#cg7 the employer-provided higher      
education assistance credit determined  
under section #de,s4  4  7c7 ,denial of 
deduction ,section #bhj;,c of such ,code
 is amended by adding at the end the    
following new subsection3  7j7          
,employer-,provided higher education    
assistance credit ,no deduction shall be
 allowed for that portion of the student
 loan repayment expenditures 7as defined
 in section #de,s7c77 and qualified     
dependent #ebi contributions 7as defined
 in section #de,s7d77 otherwise         
allowable as a deduction for the taxable
 year which is equal to the amount of   
the credit determined for such taxable  
year under section #de,s with respect to
 any such expenditures or contributions1
 as the case may be4  4  7d7 ,clerical  
amendment ,the table of sections for    
subpart ,d of part ,,iv of subchapter ,a
 of chapter #a of such ,code is amended 
by adding at the end the following new  
item3  ,sec4 #de,s4 ,employer-provided  
higher education assistance credit4  4  

7e7 ,effective date ,the amendments made
 by this section shall apply to taxable 
years beginning after ,december #ca1    
#bjaf4