,,ii  #aafth ,,congress  #ast ,session  
,s4 #bcdg  ,,in ,,the ,,senate ,,of     
,,the ,,united ,,states  ,july #ca1     
#bjai,mr4 ,gardner introduced the       
following bill2 which was read twice and
 referred to the ,committee on ,finance 
,a ,,bill  ,to amend the ,internal      
,revenue ,code of #aihf to exclude      
employer contributions to student loan  
repayment from income1 and for other    
purposes4  #a4 ,short title ,this ,act  
may be cited as the ,student ,loan      
,repayment ,acceleration ,act4  #b4     
,exclusion for employer contributions to
 student loan repayment  7a7 ,in general
 ,part ,,iii of subchapter ,b of chapter
 #a of the ,internal ,revenue ,code of  
#aihf is amended by inserting after     
section #aci;,g the following new       
section3  #aci;,h4 ,employer            
contributions to student loan repayment 
7a7 ,in general ,gross income of an     
employee shall not include any          
qualifying student loan payment4  7b7   
,qualifying student loan payment ,for   

purposes of this section--  7#a7 ,in    
general ,in the case of an individual1  
the term qualifying student loan payment
 means any payment or contribution made 
by the individual's employer in         
repayment of a qualified education loan 
7as defined in section #bba7;d77#a77    
incurred to pay the higher education    
expenses of the individual1 without     
regard to whether such payment is made  
as a match to payments made by the      
individual1 independently of any        
payments by the individual1 or is       
determined in any other manner4  7#b7   
,limitation ,such term shall not include
 any such payments or contributions to  
the extent they exceed #aj1jjj during   
the taxable year4  7c7                  
,nondiscrimination rules  7#a7 ,in      
general ,rules similar to the rules of  
paragraphs 7#b71 7#c71 and 7#d7 of      
section #abg7;b7 shall apply to any     
program or policy of an employer to     
provide qualifying student loan payments
 to employees of the employer4          

,subsection 7a7 shall not apply to any  
qualifying student loan payment made    
under a program or policy which does not
 satisfy such rules4  7#b7 ,eligibility 
,for purposes of the rules described in 
paragraph 7#a71 an employee of an       
employer shall not be treated as        
ineligible to receive qualifying student
 loan payments under a program or policy
 of the employer solely because such    
employee does not have debt incurred    
under a qualified education loan 7as    
defined in section #bba7;d77#a774  7d7  
,self-,employed individuals1 etc ,for   
purposes of this section-- 7#a7         
,employee ,the term employee includes1  
for any year1 an individual who is an   
employee within the meaning of section  
#dja7;c77#a74  7#b7 ,employer ,an       
individual who owns the entire interest 
in an unincorporated trade or business  
shall be treated as the individual's own
 employer4 ,a partnership shall be      
treated as the employer of each partner 
who is an employee within the meaning of

 paragraph 7#a74  4  7b7 ,conforming    
amendments  7#a7 ,paragraph 7#g7 of     
section #abg7;c7 of the ,internal       
,revenue ,code of #aihf is amended to   
read as follows3  7#g7 ,denial of double
 benefit ,no deduction1 credit1 or      
exclusion shall be allowed to the       
employee under any other section of this
 chapter for any amount excluded from   
income by reason of this section1       
including the amount of any qualifying  
student loan payment which is excluded  
from income under section #aci;,h4  4   
7#b7 ,paragraph 7#a7 of section #bba7;e7
 of such ,code is amended by inserting 1
 or for any amount for which an         
exclusion is allowable under section    
#aci;,h before the period4  7c7         
,exclusion of qualifying student loan   
payments from payroll taxes  7#a7 ,in   
general ,paragraph 7#bj7 of section     
#caba7;a7 of the ,internal ,revenue     
,code of #aihf is amended by striking or
 #acb and inserting #acb1 or #aci;,h4   
7#b7 ,federal unemployment tax          

,paragraph 7#af7 of section #ccjf7;b7 of
 such ,code is amended by striking or   
#acb and inserting #acb1 or #aci;,h4    
7d7 ,clerical amendment ,the table of   
sections for part ,,iii of subchapter ,b
 of chapter #a of the ,internal ,revenue
 ,code of #aihf is amended by inserting 
after the item relating to section      
#aci;,g the following new item3  ,sec4  
#aci;,h4 ,employer contributions to     
student loan repayment4  4  7e7         
,effective date ,the amendments made by 
this section shall apply to taxable     
years beginning after ,december #ca1    
#bjai4