,,ii  #aad? ,,congress  #b;d ,session   
,s4 #cbff  ,,9 ,,! ,,s5ate ,,( ,,!      
,,unit$ ,,/ates  ,july #ad1 #bjaf,mr4   
,m55dez 7= himself1 ,ms4 ,w>r51 ,mr4    
,wyd51 ,ms4 ,/ab5[1 & ,mr4 ,book]7      
introduc$ ! foll[+ bill2 :i* 0 read     
twice & ref]r$ to ! ,committee on       
,f9ance  ,a ,,bill  ,to am5d ! ,int]nal 
,rev5ue ,code ( #aihf to exclude f      
taxable income any /ud5t loan =giv5ess  
or dis*>ge4  #a4 ,%ort title ,?is ,act  
may be cit$ z ! ,/ud5t ,loan ,tax       
,relief ,act4  #b4 ,modification (      
treatm5t ( /ud5t loan =giv5ess  7a7 ,9  
g5]al ,section #ajh7;f7 ( ! ,int]nal    
,rev5ue ,code ( #aihf is am5d$-- 7#a7 by
 /rik+ p>agraphs 7#a7 & 7#b7 & ins]t+ ! 
foll[+3  7#a7 ,9 g5]al ,9 ! case ( an   
individual1 gross income does n include 
any am\nt :i* 7b = ?is subsection7 w\ld 
be includible 9 gross income by reasons 
( ! dis*>ge 79 :ole or 9 "p7 (--  7,a7  
any loan provid$ expressly = po/second>y
 educational exp5ses1 reg>dless ( :e!r  
provid$ ?r\gh ! educational in/itution  

or directly to ! borr[]1 if su* loan 0  
made by--  7i7 ! ,unit$ ,/ates1 or an   
in/rum5tality or ag5cy !re(1  7ii7 a    
,/ate1 t]ritory1 or possession ( !      
,unit$ ,/ates1 or ! ,di/rict (          
,columbia1 or any political subdivision 
!re(1 or  7iii7 any in/itution ( high]  
education1  7,b7 any private education  
loan 7z def9$ 9 section #adj7;a7 ( !    
,tru? 9 ,l5d+ ,act71  7,c7 any loan made
 by any educational organization        
describ$ 9 section #agj7;b77#a77;,a77ii7
 if su* loan is made--  7i7 pursuant to 
an agreem5t ) any entity describ$ 9     
subp>agraph 7,a7 or any private         
education l5d] 7z def9$ 9 section       
#adj7;a7 ( ! ,tru? 9 ,l5d+ ,act7 "u :i* 
! funds f :i* ! loan 0 made 7 provid$ to
 su* educational organization1 or  7ii7 
pursuant to a program ( su* educational 
organization :i* is design$ to enc\rage 
its /ud5ts to s]ve 9 occupations ) unmet
 ne$s or 9 areas ) unmet ne$s & "u :i* !
 s]vices provid$ by ! /ud5ts 7or =m]    
/ud5ts7 are = or "u ! direction ( a     

gov]nm5tal unit or an organization      
describ$ 9 section #eja7;c77#c7 & exempt
 f tax "u section #eja7;a71 or  7,d7 any
 loan made by an educational            
organization describ$ 9 section         
#agj7;b77#a77;,a77ii7 or by an          
organization exempt f tax "u section    
#eja7;a7 to ref9ance a loan to an       
individual to assi/ ! individual 9      
att5d+ any su* educational organization 
b only if ! ref9anc+ loan is pursuant to
 a program ( ! ref9anc+ organization :i*
 is design$ z describ$ 9 subp>agraph    
7,c77ii74  1  7#b7 by r$esignat+        
p>agraphs 7#c7 & 7#d7 z p>agraphs 7#b7 &
 7#c71 respectively1 &  7#c7 9 p>agraph 
7#b71 z s r$esignat$1 by--  7,a7 /rik+  
made by an organization describ$ 9      
p>agraph 7#b77;,d7 & ins]t+ made by an  
organization describ$ 9 p>agraph        
7#a77;,c7 or made by a private education
 l5d] 7z def9$ 9 section #adj7;a7 ( !   
,tru? 9 ,l5d+ ,act71 &  7,b7 ins]t+ or =
 su* private education l5d] aft] ei!r   
su* organization4  7b7 ,effective ,date 

,! am5dm5ts made by ?is section %all    
apply to dis*>ges ( loans aft] ,decemb] 
#ca1 #bjaf4