,,ii  #aai? ,,congress  #a/ ,session    
,s4 #afaj  ,,9 ,,! ,,s5ate ,,( ,,!      
,,unit$ ,,/ates  ,may #f1 #bjbe,mr4     
,:iteh\se 7= himself1 ,mr4 ,grassley1   
,mr4 ,tillis1 & ,mr4 ,wyd57 introduc$ ! 
foll[+ bill2 :i* 0 read twice & ref]r$  
to ! ,committee on ,f9ance  ,a ,,bill   
,to am5d ! ,int]nal ,rev5ue ,code (     
#aihf to exp& ! exclusion ( ,pell       
,grants f gross income4  #a4 ,%ort title
 ,?is ,act may be cit$ z ! ,tax-,free   
,pell ,grant ,act4  #b4 ,expansion (    
,pell ,grant exclusion f gross income   
7a7 ,9 g5]al ,section #aag7;b77#a7 ( !  
,int]nal ,rev5ue ,code ( #aihf is am5d$ 
by /rik+ receiv$ by an individual & all 
t foll[s & ins]t+ receiv$ by an         
individual-- 7,a7 z a s*ol>%ip or       
fell[%ip grant to ! ext5t ! individual  
e/abli%es t1 9 accordance ) ! conditions
 ( ! grant1 su* am\nt 0 us$ = qualifi$  
tuition & relat$ exp5ses1 or  7,b7 z a  
,f$]al ,pell ,grant "u section #dja ( ! 
,high] ,education ,act ( #aife 7z 9     
effect on ! date ( ! enactm5t ( !       

,tax-,free ,pell ,grant ,act74  4  7b7  
,no adju/m5t "u ,am]ican ,opportunity & 
,lifetime ,le>n+ ,cr$its ,section       
#be;,a7g77#b77;,a7 ( su* ,code is am5d$ 
by ins]t+ 7o!r ?an a ,f$]al ,pell ,grant
 "u section #dja ( ! ,high] ,education  
,act ( #aife 7z 9 effect on ! date ( !  
enactm5t ( ! ,tax-,free ,pell ,grant    
,act77 aft] section #aag4  7c7          
,effective date ,! am5dm5ts made by ?is 
section %all apply to taxable ye>s      
beg9n+ aft] ,decemb] #ca1 #bjbe4