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

This bill amends the Internal Revenue Code of 1986 to provide significant exemptions for qualified student loan bonds , aiming to remove federal tax restrictions and facilitate their issuance. It specifically exempts these bonds from the state volume cap , which limits the amount of tax-exempt private activity bonds a state can issue annually. The legislation also ensures that interest on qualified student loan bonds is not treated as a tax preference item for the alternative minimum tax . Additionally, it clarifies that for pooled financing bond rules, student borrowers are not considered the "ultimate borrower" for these bonds. These amendments apply to all qualified student loan bonds issued after the bill's enactment.