To amend the Internal Revenue Code of 1986 to exempt qualified student loan bonds from the volume cap and the alternative minimum tax.

• Students and families: Would lower borrowing costs for state and nonprofit student loan programs that use bond financing, which can make those programs cheaper to operate and potentially expand access.
• State, local, and nonprofit issuers: Would exempt qualified student loan bonds from the volume cap so issuers can use tax-advantaged bond financing without using limited capped allocation for these bonds.
• Investors and tax-affected buyers: Would exclude these bonds from AMT private-activity treatment for obligations issued after enactment, making them more attractive to buyers who face the alternative minimum tax.

(Note: the changes apply to obligations issued after the date of enactment.)