,i  #aae? ,,congress  #a/ ,session  ,h4 
,r4 #agfd  ,,9 ,,! ,,h\se ,,(           
,,repres5tatives  ,m>* #bh1 #bjag,mr4   
,mess] introduc$ ! foll[+ bill2 :i* 0   
ref]r$ to ! ,committee on ,ways & ,means
  ,a ,,bill  ,to am5d ! ,int]nal ,rev5ue
 ,code ( #aihf to exclude room & bo>d   
co/s & c]ta9 rese>* exp5ses f gross     
income ( c]ta9 /ud5ts4  #a4 ,%ort title 
,?is ,act may be cit$ z ! ,fair         
,treatm5t ( ,s*ol>%ips & ,pell ,grants  
,act ( #bjag4  #b4 ,exclusion ( room &  
bo>d co/s & c]ta9 rese>* exp5ses f gross
 income  7a7 ,9 g5]al ,section          
#aag7;b77#a7 ( ! ,int]nal ,rev5ue ,code 
( #aihf is am5d$ by /rik+ us$ = qualifi$
 tuition & relat$ exp5ses4 & ins]t+ !   
foll[+3  us$-- 7,a7 = qualifi$ tuition &
 relat$ exp5ses1 or  7,b7 = room & bo>d 
co/s4  4  7b7 ,cl>ification ) respect to
 rese>* exp5ses ,section                
#aag7;b77#b77;,b7 ( su* ,code is am5d$  
by ins]t+ or = rese>* at su* an         
educational organization be=e ! p]iod at
 ! end4  7c7 ,def9itions ,section       

#aag7;b7 ( su* ,code is am5d$ by add+ at
 ! end ! foll[+ new p>agraph3  7#c7     
,room & bo>d co/s ,= purposes ( p>agraph
 7#a71 ! t]m room & bo>d co/s means room
 & bo>d co/s = :i* !re is an all[ance "u
 section #dgb7c7 ( ! ,high] ,education  
,act ( #aife4  4  7d7 ,limitation  7#a7 
,9 g5]al ,section #aag7;c7 ( su* ,code  
is am5d$ by add+ at ! end ! foll[+ new  
p>agraph3  7#c7 ,exp5ses = rese>*  7,a7 
,9 g5]al ,! am\nt includ$ 9 qualifi$    
tuition & relat$ exp5ses "u subsection  
7b77#b77;,b7 = a taxable ye> = rese>* n 
requir$ = a c\rse ( in/ruction %all n   
exce$ #cjj4  7,b7 ,inflation adju/m5t ,9
 ! case ( any taxable ye> beg9n+ aft]   
#bjag1 ! #cjj am\nt 9 subp>agraph 7,a7  
%all be increas$ by an am\nt equal to-- 
7i7 su* doll> am\nt1 multipli$ by  7ii7 
! co/-(-liv+ adju/m5t det]m9$ "u section
 #a7;f77#c7 = ! cal5d> ye> 9 :i* !      
taxable ye> beg9s1 det]m9$ by sub/itut+ 
cal5d> ye> #bjaf = cal5d> ye> #aiib 9   
subp>agraph 7,b7 ( su* section4  7,c7   
,r\nd+ ,if any increase det]m9$ "u      

subp>agraph 7,b7 is n a multiple ( #e1  
su* increase %all be r\nd$ to ! ne>e/   
multiple ( #e4  4  7#b7 ,con=m+ am5dm5ts
 ,section #aag7;c7 ( su* ,code is       
am5d$-- 7,a7 9 ! head+1 by /rik+        
,limitation & ins]t+ ,limitations1 &    
7,b7 9 ! head+ ( p>agraph 7#a71 by /rik+
 ,9 g5]al & ins]t+ ,paym5t = tea*+1     
rese>*1 & o!r s]vices4  7e7 ,effective  
date ,! am5dm5ts made by ?is section    
apply ) respect to am\nts receiv$ 9     
taxable ye>s beg9n+ aft] ,decemb] #ca1  
#bjaf4