,i  #aag? ,,congress  #b;d ,session  ,h4
 ,r4 #fgjh  ,,9 ,,! ,,h\se ,,(          
,,repres5tatives  ,febru>y #aa1         
#bjbb,mr4 ,vic5te ,gonzalez ( ,texas    
introduc$ ! foll[+ bill2 :i* 0 ref]r$ to
 ! ,committee on ,education & ,labor1 & 
9 addition to ! ,committee on ,ways &   
,means1 = a p]iod to be subsequ5tly     
det]m9$ by ! ,speak]1 9 ea* case =      
consid]ation ( su* provisions z fall )9 
! jurisdiction ( ! committee conc]n$  ,a
 ,,bill  ,to direct ! ,secret>y (       
,education to cancel or repay up to     
#be1jjj 9 ,f$]al /ud5t loans = ea*      
borr[]4  #a4 ,%ort title ,?is ,act may  
be cit$ z ! ,/ud5t ,loan ,relief ,act4  
#b4 ,writ+ d[n balances = ,f$]al /ud5t  
loan borr[]s  7a7 ,9 g5]al ,n lat] ?an  
#ij days aft] ! date ( enactm5t ( ?is   
,act1 ! ,secret>y %all cancel or repay  
an am\nt on ! out/&+ balance due        
7includ+ ! unpaid pr9cipal am\nt1 any   
accru$ int]e/1 & any fees or *>ges7 on !
 ,f$]al /ud5t loans ( a borr[] t is     
equal to ! less] (-- 7#a7 #be1jjj2 or   

7#b7 ! total out/&+ balance due on su*  
loans ( ! borr[]4  7b7 ,application     
,unless o!rwise reque/$ by ! borr[] 9   
writ+1 a cancellation or repaym5t "u    
subsection 7a7 %all be appli$-- 7#a7 9 !
 case ( a borr[] ^: loans h diff]5t     
applicable rates ( int]e/1 fir/ t[>d !  
out/&+ balance due on ! loan ) ! highe/ 
applicable rate ( int]e/ among su*      
loans2 &  7#b7 9 ! case ( a borr[] (    
loans t h ! same applicable rates (     
int]e/1 fir/ t[>d ! out/&+ balance (    
pr9cipal due on ! loan ) ! highe/       
pr9cipal balance among su* loans4  7c7  
,data ,to implem5t ,contractors ( !     
,secret>y1 & hold]s ( ,f$]al /ud5t      
loans1 %all report1 to ! satisfaction ( 
! ,secret>y ! in=mation necess>y to c>ry
 out ?is section4  7d7 ,taxation ,=     
purposes ( ! ,int]nal ,rev5ue ,code (   
#aihf1 9 ! case ( any cancellation or   
repaym5t ( indebt$ness "u ?is subsection
 ) respect to any borr[]3 7#a7          
,exclusion f gross income ,no am\nt %all
 be includ$ 9 ! gross income ( su*      

borr[] by reason ( su* cancellation or  
repaym5t4  7#b7 ,waiv] ( in=mation      
report+ requirem5ts ,am\nts exclud$ f   
gross income "u p>agraph 7#a7 %all n be 
requir$ to be report$ 7& %all n be tak5 
into acc\nt 9 det]m9+ :e!r any report+  
requirem5t applies7 "u *apt] #fa ( su*  
,code4  7e7 ,def9itions ,9 ?is section3 
7#a7 ,f$]al /ud5t loan ,! t]m ,f$]al    
/ud5t loan means a loan-- 7,a7 made "u  
"p ,b1 "p ,d1 or "p ,e ( title ,,iv ( ! 
,high] ,education ,act ( #aife 7#bj     
,u4,s4,c4 #ajga et seq41 #ajhg;a et     
seq41 #ajhg;aa et seq471 & held by !    
,dep>tm5t ( ,education2 or  7,b7 made1  
insur$1 or gu>ante$ "u "p ,b ( ! su*    
title 7#bj ,u4,s4,c4 #ajga et seq471 or 
made "u "p ,e ( su* title 7#bj ,u4,s4,c4
 #ajhgqaa seq471 & n held by ! ,dep>tm5t
 ( ,education4  7#b7 ,secret>y ,! t]m   
,secret>y means ! ,secret>y (           
,education4