,i  #aag? ,,congress  #a/ ,session  ,h4 
,r4 #afhc  ,,9 ,,! ,,h\se ,,(           
,,repres5tatives  ,m>* #i1 #bjba,mr4    
,danny ,k4 ,davis ( ,ill9ois introduc$ !
 foll[+ bill2 :i* 0 ref]r$ to !         
,committee on ,ways & ,means  ,a ,,bill 
,to am5d ! ,int]nal ,rev5ue ,code (     
#aihf to exclude c]ta9 /ud5t loan       
=giv5ess f gross income4  #a4           
,modification ( treatm5t ( /ud5t loan   
=giv5ess  7a7 ,9 g5]al ,section #ajh7;f7
 ( ! ,int]nal ,rev5ue ,code ( #aihf is  
am5d$ by /rik+ p>agraph 7#e7 & ins]t+ ! 
foll[+3  7#e7 ,special rule = dis*>ges 9
 #bjba ?r\gh #bjbe ,gross income does n 
include any am\nt :i* 7b = ?is          
subsection7 w\ld be includible 9 gross  
income by reason ( ! dis*>ge 79 :ole or 
9 "p7 aft] ,decemb] #ca1 #bjbj1 & be=e  
,janu>y #a1 #bjbf1 (-- 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  
made1 insur$1 or gu>ante$ 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 an eligible 
educational in/itution 7z def9$ 9       
section #be;,a71  7,b7 any private      
education loan 7z def9$ 9 section       
#adj7;a77#g7 ( ! ,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  ,! prec$+ s5t5ce %all n apply
 to ! dis*>ge ( a loan made by an       
organization describ$ 9 subp>agraph 7,c7
 or made by a private education l5d] 7z 
def9$ 9 section #adj7;a77#g7 ( ! ,tru? 9
 ,l5d+ ,act7 if ! dis*>ge is on acc\nt (
 s]vices p]=m$ = ei!r su* organization  
or = su* private education l5d]4  4  7b7
 ,effective date ,! am5dm5t made by ?is 
section %all apply to dis*>ges ( loans  
aft] ,decemb] #ca1 #bjbj4