,,ii  #aaf? ,,congress  #a/ ,session    
,s4 #bcdg  ,,9 ,,! ,,s5ate ,,( ,,!      
,,unit$ ,,/ates  ,july #ca1 #bjai,mr4   
,g>dn] introduc$ ! foll[+ bill2 :i* 0   
read twice & ref]r$ to ! ,committee on  
,f9ance  ,a ,,bill  ,to am5d ! ,int]nal 
,rev5ue ,code ( #aihf to exclude employ]
 contributions to /ud5t loan repaym5t f 
income1 & = o!r purposes4  #a4 ,%ort    
title ,?is ,act may be cit$ z ! ,/ud5t  
,loan ,repaym5t ,accel]ation ,act4  #b4 
,exclusion = employ] contributions to   
/ud5t loan repaym5t  7a7 ,9 g5]al ,"p   
,,iii ( sub*apt] ,b ( *apt] #a ( !      
,int]nal ,rev5ue ,code ( #aihf is am5d$ 
by ins]t+ aft] section #aci;,g ! foll[+ 
new section3  #aci;,h4 ,employ]         
contributions to /ud5t loan repaym5t    
7a7 ,9 g5]al ,gross income ( an employee
 %all n include any qualify+ /ud5t loan 
paym5t4  7b7 ,qualify+ /ud5t loan paym5t
 ,= purposes ( ?is section--  7#a7 ,9   
g5]al ,9 ! case ( an individual1 ! t]m  
qualify+ /ud5t loan paym5t means any    
paym5t or contribution made by !        

individual's employ] 9 repaym5t ( a     
qualifi$ education loan 7z def9$ 9      
section #bba7;d77#a77 incurr$ to pay !  
high] education exp5ses ( ! individual1 
)\t reg>d to :e!r su* paym5t is made z a
 mat* to paym5ts made by ! individual1  
indep5d5tly ( any paym5ts by !          
individual1 or is det]m9$ 9 any o!r     
mann]4  7#b7 ,limitation ,su* t]m %all n
 include any su* paym5ts or             
contributions to ! ext5t !y exce$       
#aj1jjj dur+ ! taxable ye>4  7c7        
,nondiscrim9ation rules  7#a7 ,9 g5]al  
,rules simil> to ! rules ( p>agraphs    
7#b71 7#c71 & 7#d7 ( section #abg7;b7   
%all apply to any program or policy ( an
 employ] to provide qualify+ /ud5t loan 
paym5ts to employees ( ! employ]4       
,subsection 7a7 %all n apply to any     
qualify+ /ud5t loan paym5t made "u a    
program or policy :i* does n satisfy su*
 rules4  7#b7 ,eligibility ,= purposes (
 ! rules describ$ 9 p>agraph 7#a71 an   
employee ( an employ] %all n be treat$ z
 ineligible to receive qualify+ /ud5t   

loan paym5ts "u a program or policy ( ! 
employ] solely because su* employee does
 n h debt incurr$ "u a qualifi$         
education loan 7z def9$ 9 section       
#bba7;d77#a774  7d7 ,self-,employ$      
individuals1 etc ,= purposes ( ?is      
section-- 7#a7 ,employee ,! t]m employee
 includes1 = any ye>1 an individual :o  
is an employee )9 ! mean+ ( section     
#dja7;c77#a74  7#b7 ,employ] ,an        
individual :o owns ! entire int]e/ 9 an 
un9corporat$ trade or bus9ess %all be   
treat$ z ! individual's own employ]4 ,a 
p>tn]%ip %all be treat$ z ! employ] (   
ea* p>tn] :o is an employee )9 ! mean+ (
 p>agraph 7#a74  4  7b7 ,con=m+ am5dm5ts
  7#a7 ,p>agraph 7#g7 ( section #abg7;c7
 ( ! ,int]nal ,rev5ue ,code ( #aihf is  
am5d$ to read z foll[s3  7#g7 ,d5ial (  
d\ble b5efit ,no d$uction1 cr$it1 or    
exclusion %all be all[$ to ! employee "u
 any o!r section ( ?is *apt] = any am\nt
 exclud$ f income by reason ( ?is       
section1 includ+ ! am\nt ( any qualify+ 
/ud5t loan paym5t :i* is exclud$ f      

income "u section #aci;,h4  4  7#b7     
,p>agraph 7#a7 ( section #bba7;e7 ( su* 
,code is am5d$ by ins]t+ 1 or = any     
am\nt = :i* an exclusion is all[able "u 
section #aci;,h be=e ! p]iod4  7c7      
,exclusion ( qualify+ /ud5t loan paym5ts
 f payroll taxes  7#a7 ,9 g5]al         
,p>agraph 7#bj7 ( section #caba7;a7 ( ! 
,int]nal ,rev5ue ,code ( #aihf is am5d$ 
by /rik+ or #acb & ins]t+ #acb1 or      
#aci;,h4  7#b7 ,f$]al unemploym5t tax   
,p>agraph 7#af7 ( section #ccjf7;b7 (   
su* ,code is am5d$ by /rik+ or #acb &   
ins]t+ #acb1 or #aci;,h4  7d7 ,cl]ical  
am5dm5t ,! table ( sections = "p ,,iii (
 sub*apt] ,b ( *apt] #a ( ! ,int]nal    
,rev5ue ,code ( #aihf is am5d$ by ins]t+
 aft] ! item relat+ to section #aci;,g !
 foll[+ new item3  ,sec4 #aci;,h4       
,employ] contributions to /ud5t loan    
repaym5t4  4  7e7 ,effective date ,!    
am5dm5ts made by ?is section %all apply 
to taxable ye>s beg9n+ aft] ,decemb]    
#ca1 #bjai4