S.Amdt. 551

SA 551. Mr. WYDEN submitted an amendment intended to be proposed to
amendment SA 98 proposed by Mr. Inouye (for himself and Mr. Baucus) to
the bill H.R. 1, making supplemental appropriations for job
preservation and creation, infrastructure investment, energy efficiency
and science, assistance to the unemployed, and State and local fiscal
stabilization, for fiscal year ending September 30, 2009, and for other
purposes; which was ordered to lie on the table; as follows:

On page 448, after line 15, insert the following:

SEC. 1005. MODIFICATION OF QUALIFIED TUITION PROGRAMS.

(a) In General.--Subparagraph (A) of section 529(e)(3) is
amended--
(1) by striking ``and'' at the end of clause (i),
(2) by striking the period at the end of clause (ii) and
inserting ``; and'', and
(3) by adding at the end the following new clause:
``(iii) expenses relating to repayment, interest, and
security of a loan described in section 221(d)(1).''.
(b) Security.--Paragraph (5) of section 529(b) is amended
by inserting ``, other than a loan described in section
221(d)(1)'' after ``as security for a loan''.
(c) Effective Date.--The amendments made by this section
shall apply to taxable years ending after the date of the
enactment of this Act.
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