instruction:
In this task, you are given text for US Congressional and California state bills, your task is to generate a summary for this bill.
question:
SECTION 1. SHORT TITLE.

    This Act may be cited as the ``American Family Act of 2017''.

SEC. 2. ESTABLISHMENT OF FULLY REFUNDABLE CHILD TAX CREDIT.

    (a) Elimination of Existing Child Tax Credit.--Subpart A of part IV 
of subchapter A of chapter 1 of subtitle A of the Internal Revenue Code 
of 1986 is amended by striking section 24.
    (b) Establishment of Fully Refundable Child Tax Credit.--Subpart C 
of part IV of subchapter A of chapter 1 of subtitle A of such Code is 
amended by inserting after section 36B the following new section:

``SEC. 36C. CHILD TAX CREDIT.

    ``(a) Allowance of Credit.--There shall be allowed as a credit 
against the tax imposed by this chapter for the taxable year an amount 
equal to the sum of--
            ``(1) with respect to each qualifying child of the taxpayer 
        who has attained 6 years of age before the close of such 
        taxable year and for which the taxpayer is allowed a deduction 
        under section 151, an amount equal to $3,000, and
            ``(2) with respect to each qualifying child of the taxpayer 
        who has not attained 6 years of age before the close of such 
        taxable year and for which the taxpayer is allowed a deduction 
        under section 151, an amount equal to 120 percent of the dollar 
        amount in paragraph (1).
    ``(b) Limitation.--
            ``(1) In general.--The amount of the credit allowable under 
        subsection (a) shall be reduced (but not below zero) by the 
        applicable amount for each $1,000 (or fraction thereof) by 
        which the taxpayer's modified adjusted gross income exceeds the 
        threshold amount. For purposes of the preceding sentence, the 
        term `modified adjusted gross income' means adjusted gross 
        income increased by any amount excluded from gross income under 
        section 911, 931, or 933.
            ``(2) Threshold amount.--
                    ``(A) In general.--For purposes of paragraph (1), 
                the term `threshold amount' means--
                            ``(i) $110,000 in the case of a joint 
                        return,
                            ``(ii) $75,000 in the case of an individual 
                        who is not married, and
                            ``(iii) $55,000 in the case of a married 
                        individual filing a separate return.
                    ``(B) Marital status.--For purposes of this 
                paragraph, marital status shall be determined under 
                section 7703.
            ``(3) Applicable amount.--For purposes of paragraph (1), 
        the term `applicable amount' means an amount equal to the 
        quotient of--
                    ``(A) the amount of the credit allowable under 
                subsection (a), as determined without regard to this 
                subsection, divided by
                    ``(B) an amount equal to the product of--
                            ``(i) $20, multiplied by
                            ``(ii) the total number of qualifying 
                        children of the taxpayer.
    ``(c) Qualifying Child.--
            ``(1) In general.--In this section, the term `qualifying 
        child' means a qualifying child of the taxpayer (as defined in 
        section 152(c)) who has not attained 19 years of age.
            ``(2) Exception for certain non-citizens.--The term 
        `qualifying child' shall not include any individual who would 
        not be a dependent if subparagraph (A) of section 152(b)(3) 
        were applied without regard to all that follows `resident of 
        the United States'.
    ``(d) Inflation Adjustment.--
            ``(1) In general.--In the case of any taxable year 
        beginning after 2017, the $3,000 amount in subsection (a)(1) 
        shall be increased by an amount equal to--
                    ``(A) such dollar amount, multiplied by
                    ``(B) the cost of living adjustment determined 
                under section 1(f)(3) for the calendar year in which 
                the taxable year begins determined by substituting 
                `calendar year 2016' for `calendar year 1992' in 
                subparagraph (B) thereof.
            ``(2) Rounding.--If any increase determined under paragraph 
        (1) is not a multiple of $50, such increase shall be rounded to 
        the nearest multiple of $50.
    ``(e) Identification Requirements.--
            ``(1) Qualifying child identification requirement.--No 
        credit shall be allowed under this section to a taxpayer with 
        respect to any qualifying child unless the taxpayer includes 
        the name and taxpayer identification number of such qualifying 
        child on the return of tax for the taxable year and such 
        taxpayer identification number was issued on or before the due 
        date for filing such return.
            ``(2) Taxpayer identification requirement.--No credit shall 
        be allowed under this section if the identifying number of the 
        taxpayer was issued after the due date for filing the return 
        for the taxable year.
    ``(f) Taxable Year Must Be Full Taxable Year.--Except in the case 
of a taxable year closed by reason of the death of the taxpayer, no 
credit shall be allowable under this section in the case of a taxable 
year covering a period of less than 12 months.
    ``(g) Restrictions on Taxpayers Who Improperly Claimed Credit in 
Prior Year.--
            ``(1) Taxpayers making prior fraudulent or reckless 
        claims.--
                    ``(A) In general.--No credit shall be allowed under 
                this section for any taxable year in the disallowance 
                period.
                    ``(B) Disallowance period.--For purposes of 
                subparagraph (A), the disallowance period is--
                            ``(i) the period of 10 taxable years after 
                        the most recent taxable year for which there 
                        was a final determination that the taxpayer's 
                        claim of credit under this section was due to 
                        fraud, and
                            ``(ii) the period of 2 taxable years after 
                        the most recent taxable year for which there 
                        was a final determination that the taxpayer's 
                        claim of credit under this section was due to 
                        reckless or intentional disregard of rules and 
                        regulations (but not due to fraud).
            ``(2) Taxpayers making improper prior claims.--In the case 
        of a taxpayer who is denied credit under this section for any 
        taxable year as a result of the deficiency procedures under 
        subchapter B of chapter 63, no credit shall be allowed under 
        this section for any subsequent taxable year unless the 
        taxpayer provides such information as the Secretary may require 
        to demonstrate eligibility for such credit.
    ``(h) Reconciliation of Credit and Advance Credit.--
            ``(1) In general.--The amount of the credit allowed under 
        this section for any taxable year shall be reduced (but not 
        below zero) by the aggregate amount of any advance payments of 
        such credit under section 7527A for such taxable year.
            ``(2) Excess advance payments.--If the aggregate amount of 
        advance payments under section 7527A for the taxable year 
        exceed the amount of the credit allowed under this section for 
        such taxable year (determined without regard to paragraph (1)), 
        the tax imposed by this chapter for such taxable year shall be 
        increased by the amount of such excess''.
    (c) Advance Payment of Credit.--Chapter 77 of the Internal Revenue 
Code of 1986 is amended by inserting after section 7527 the following 
new section:

``SEC. 7527A. ADVANCE PAYMENT OF CHILD TAX CREDIT.

    ``(a) In General.--As soon as practicable and not later than 1 year 
after the date of the enactment of this section, the Secretary shall 
establish a program for making advance payments of the credit allowed 
under section 36C on a monthly basis (determined without regard to 
subsection (h)(1) of such section), or as frequently as the Secretary 
determines to be administratively feasible, to taxpayers allowed such 
credit.
    ``(b) Limitation.--
            ``(1) In general.--The Secretary may make payments under 
        subsection (a) only to the extent that the total amount of such 
        payments made to any taxpayer during the taxable year does not 
        exceed an amount equal to the excess, if any, of--
                    ``(A) subject to paragraph (2), the amount 
                determined under subsection (a) of section 36C with 
                respect to such taxpayer (determined without regard to 
                subsection (h) of such section) for such taxable year, 
                over
                    ``(B) the estimated tax imposed by subtitle A, as 
                reduced by the credits allowable under subparts A and C 
                (with the exception of section 36C) of such part IV, 
                with respect to such taxpayer for such taxable year, as 
                determined in such manner as the Secretary deems 
                appropriate.
            ``(2) Application of threshold amount limitation.--The 
        program described in subsection (a) shall make reasonable 
        efforts to apply the limitation of section 36C(b) with respect 
        to payments made under such program.''.
    (d) Conforming Amendments.--
            (1) The table of sections for subpart A of part IV of 
        subchapter A of chapter 1 of subtitle A of the Internal Revenue 
        Code of 1986 is amended by striking the item relating to 
        section 24.
            (2) The table of sections for subpart C of part IV of 
        subchapter A of chapter 1 of subtitle A of such Code is amended 
        by inserting after the item relating to section 36B the 
        following:

``Sec. 36C. Child tax credit.''.
            (3) The table of sections for chapter 77 of such Code is 
        amended by inserting after the item relating to section 7527 
        the following new item:

``Sec. 7527A. Advance payment of child tax credit.''.
            (4) Subparagraph (B) of section 45R(f)(3) of such Code is 
        amended to read as follows:
                    ``(B) Special rule.--Any amounts paid pursuant to 
                an agreement under section 3121(l) (relating to 
                agreements entered into by American employers with 
                respect to foreign affiliates) which are equivalent to 
                the taxes referred to in subparagraph (A) shall be 
                treated as taxes referred to in such subparagraph.''.
            (5) Section 152(f)(6)(B)(ii) of such Code is amended by 
        striking ``section 24'' and inserting ``section 36C''.
            (6) Paragraph (26) of section 501(c) of such Code is 
        amended in the flush matter at the end by striking ``section 
        24(c))'' and inserting ``section 36C(c)) who has not attained 
        17 years of age''.
            (7) Section 6211(b)(4)(A) of such Code is amended--
                    (A) by striking ``24(d),'', and
                    (B) by inserting ``36C,'' after ``36B,''.
            (8) Section 6213(g)(2) of such Code is amended--
                    (A) in subparagraph (I), by striking ``section 
                24(e)'' and inserting ``section 36C(e)'', and
                    (B) in subparagraph (L), by striking ``24, or 32'' 
                and inserting ``32, or 36C''.
            (9) Paragraph (2) of section 1324(b) of title 31, United 
        States Code, is amended by inserting ``36C,'' after ``36B,''.
    (e) Effective Date.--The amendments made by this section shall 
apply to taxable years beginning after December 31, 2016.
answer:
American Family Act of 2017  This bill amends the Internal Revenue Code, with respect to the child tax credit, to: (1) make the credit fully refundable, (2) increase the amount of the credit and allow an additional credit for children who are under six years of age, (3) require the amount of the credit to be adjusted annually for inflation after 2017, and (4) require the Department of the Treasury to establish a program for making advance payments of the credit on a monthly basis. 


question:
SECTION 1. SHORT TITLE.

     This Act may be cited as ``The American Horse Slaughter Prevention 
Act''.

SEC. 2. FINDINGS.

     Congress makes the following findings:
            (1) Horses have played a significant role in the history 
        and culture of the United States.
            (2) Horses in the United States are not raised for food or 
        fiber.
            (3) As a non-food and recreational animal, horses should be 
        protected from slaughter.
            (4) The foreign-owned horse slaughter industry has 
        slaughtered and exported for human consumption over 3 million 
        American horses in the last 2 decades.
            (5) Approximately 55,000 American horses are slaughtered 
        for human consumption annually in the United States by foreign-
        owned slaughterhouses. Tens of thousands of live horses are 
        exported from the United States annually for slaughter.
            (6) Horses slaughtered in these foreign-owned plants in the 
        United States have often been hauled several thousand miles 
        over several days, contrary to acceptable non-slaughter 
        standards for water, food, and rest.
            (7) Many horses shipped to slaughter are young, healthy 
        animals. Others are old, sick, blind, crippled and in otherwise 
        poor condition and are unfit to withstand the rigors of long 
        travel. Horses sent to be slaughtered are often shipped on 
        crowded double deck trucks designed for shorter necked species 
        such as pigs, cattle and sheep, and are forced to travel in a 
        bent position which can result in suffering, injury and death.
            (8) Killing of horses by foreign-owned slaughterhouses in 
        the United States contrasts with the preferable method of 
        killing by chemical euthanasia.
            (9) Horses endure repeated blows to the head with stunning 
        equipment that often does not render the animals unconscious. 
        Some horses proceed still conscious through the remaining 
        stages of slaughter being bled out and dismembered.
            (10) Because horses in America are not food animals, 
        veterinarians commonly prescribe and treat horses with potent 
        drugs that may reside in the horseflesh and be dangerous when 
        consumed by humans.
            (11) Because of the lack of disclosure on the part of the 
        agents and dealers for the slaughter plants people's horses are 
        many times acquired and slaughtered through fraud and 
        misrepresentation. Slaughter also provides a quick and 
        evidence-free outlet for stolen horses.
            (12) The imposition of a ban on the sale of horseflesh for 
        human consumption, regardless of its source, is consistent with 
        the international obligations of the United States because it 
        applies equally to domestic and foreign producers and avoids 
        any discrimination among foreign sources of competing products. 
        Such a ban is also consistent with provisions of international 
        agreements to which the United States is a party that expressly 
        allow for measures designed to protect the health and welfare 
        of animals and to enjoin the use of deceptive trade practices 
        in international or domestic commerce.

SEC. 3. PURPOSE.

     The purpose of this Act is --
            (1) to prohibit the slaughter of horses for human 
        consumption;
            (2) to prohibit the sale, possession, and trade of 
        horseflesh for human consumption;
            (3) to prohibit the sale, possession, and trade of live 
        horses for slaughter for human consumption.

SEC. 4. DEFINITIONS.

     For the purposes of this Act, the following definitions apply:
            (1) Euthanasia.--The term ``euthanasia'' means to kill an 
        animal humanely by means that immediately renders the animal 
        unconscious, with this state remaining until the animal's swift 
        death.
            (2) Export.--The term ``export'' means to take from any 
        place subject to the jurisdiction of the United States to a 
        place not subject to such jurisdiction, whether or not the 
        taking constitutes an exportation within the meaning of the 
        customs laws of the United States.
            (3) Horse.--The term ``horse'' means all members of the 
        equid family, including horses, ponies, donkeys, mules, asses, 
        and burros.
            (4) Horseflesh.--The term ``horseflesh'' means the flesh of 
        a dead horse, including the animal's viscera, skin, hair, hide, 
        hooves, and bones.
            (5) Human consumption.--The term ``human consumption'' 
        means ingestion by people as a source of food.
            (6) Import.--The term ``import'' means to bring into any 
        place subject to the jurisdiction of the United States from a 
        place not subject to such jurisdiction, whether or not the 
        bringing constitutes an importation within the meaning of the 
        customs laws of the United States.
            (7) Person.--The term ``person'' means--
                    (A) an individual, corporation, partnership, trust, 
                association, or other private entity;
                    (B) an officer, employee, agent, department, or 
                instrumentality of--
                            (i) the Federal Government; or
                            (ii) any State, municipality, or political 
                        subdivision of State; or
                    (C) any other entity subject to the jurisdiction of 
                the United States.
            (8) Secretary.--The term ``Secretary'' means the Secretary 
        of Agriculture.
            (9) Slaughter.--The term ``slaughter'' means the commercial 
        slaughter of one or more horses with the intent to sell, 
        barter, or trade the flesh for human consumption.
            (10) State.--The term ``State'' means the several States, 
        the District of Columbia, the Commonwealth of Puerto Rico, the 
        Virgin Islands, Guam, the Commonwealth of the Northern Mariana 
        Islands, American Samoa, and any other territory, or possession 
        of the United States.
            (11) Transport.--The term ``transport'' means to move by 
        any means, or to receive or load onto a vehicle for the purpose 
        of movement.
            (12) United states.--The term ``United States'' means the 
        customs territory of the United States, as defined in general 
        note 2 of the Harmonized Tariff Schedule of the United States.

SEC. 5. PROHIBITED ACTS.

    (a) In General.--A person shall not--
            (1) slaughter a horse for human consumption;
            (2) import into, or export from, the United States 
        horseflesh for human consumption or live horses intended for 
        slaughter for human consumption;
            (3) sell or barter, offer to sell or barter, purchase, 
        possess, transport, deliver, or receive horseflesh for human 
        consumption or live horses intended for slaughter for human 
        consumption; or
            (4) solicit, request, or otherwise knowingly cause any act 
        prohibited under paragraph (1), (2), or (3).

SEC. 6. PENALTIES AND ENFORCEMENT.

    (a) Criminal Penalties.--A person who violates section 5 shall be 
fined under title 18, United States Code, imprisoned for not more than 
1 year, or both.
    (b) Civil Penalties.--
            (1) In general.--Any person who violates any provision of 
        section 5 shall, in addition to any other civil or criminal 
        penalty that may be imposed under title 18, United States Code, 
        or any other provision of law, be assessed, by the Secretary, a 
        civil penalty of not more than $5,000 but not less than $2,500, 
        and shall have confiscated all horses in that person's physical 
        or legal possession at the time of arrest, if said horses are 
        intended for slaughter.
            (2) Debarment.--The Secretary shall prohibit a person from 
        importing, exporting, transporting, trading, or selling horses 
        in the United States, if the Secretary finds that the person 
        has engaged in a pattern or practice of actions that has 
        resulted in a final judicial or administrative determination 
        with respect to the assessment of criminal or civil penalties 
        for violations of any provision of this Act
    (c) Notice; Hearing.--No monetary penalty may be assessed under 
this subsection against a person unless the person is given notice and 
opportunity for a hearing with respect to such violation in accordance 
with section 554 of title 5, United States Code.
    (d) Enforcement.--
            (1) Use of personnel.--The Secretary shall enforce this 
        Act, and may use, by agreement, the personnel, services, and 
        facilities of any other Federal, State, or local agency for the 
        purposes of enforcing this Act. For good cause shown, the 
        Secretary may remit or mitigate any civil penalty.
            (2) Execution of process; arrest; search; seizure.--Any 
        person authorized by the Secretary to enforce this Act may 
        execute any warrant or process issued by any officer or court 
        of competent jurisdiction to enforce this Act. Such a person so 
        authorized may, in addition to any other authority conferred by 
        law--
                    (A) with or without warrant or other process, 
                arrest any person committing in his presence or view a 
                violation of this Act or the regulations issued 
                thereunder;
                    (B) seize the cargo of any truck or other 
                conveyance used or employed to violate this Act or the 
                regulations issued hereunder or which reasonably 
                appears to have been so used or employed; and
                    (C) seize, whenever and wherever found, all horses 
                and horseflesh possessed in violation of this Act or 
                the regulations issued thereunder and dispose of them, 
                in accordance with this section and regulations 
                prescribed by the Secretary.
            (3) Placement of confiscated horses.--
                    (A) Temporary placement.--After confiscation of a 
                live horse pursuant to this Act, the arresting 
                authorities shall work with animal welfare societies 
                and animal control departments to ensure the temporary 
                placement of the horse with an animal rescue facility 
                that is an organization described in section 501(c)(3) 
                of the Internal Revenue Code of 1986 and is exempt from 
                taxation under section 501(a) of such Code, while the 
                person charged with violating this Act is prosecuted. 
                If placement at such a facility is not possible, the 
                arresting authorities shall work with animal welfare 
                societies and animal control departments to temporarily 
                place the horse with a facility that has as its primary 
                purpose the humane treatment of animals, or another 
                suitable location.
                    (B) Bonds.--
                            (i) Posting of bond.--The owner of a horse 
                        confiscated pursuant to this Act may prevent 
                        permanent placement of the horse by the 
                        facility that has temporary custody of the 
                        horse by posting a bond with the court in an 
                        amount the court determines is sufficient to 
                        provide for the necessary care and keeping of 
                        the horse for at least 60 days, including the 
                        day on which the horse was taken into custody. 
                        Such bond shall be filed with the court within 
                        10 days after the horse is confiscated. If a 
                        bond is not so posted, the custodial facility 
                        shall determine permanent placement of the 
                        horse in accordance with reasonable practices 
                        for the humane treatment of animals. If the 
                        animal has not yet been returned to the owner 
                        at the end of the time for which expenses are 
                        covered by the bond, and if the owner desires 
                        to prevent permanent placement of the animal by 
                        the custodial facility, the owner shall post a 
                        new bond with the court within ten days 
                        following the prior bond's expiration. If a new 
                        bond is not so posted, the custodial facility 
                        shall determine permanent placement of the 
                        horse in accordance with reasonable practices 
                        for the humane treatment of animals.
                            (ii) Costs for providing care for horse 
                        deducted from bond.--If a bond has been posted 
                        in accordance with clause (i), the custodial 
                        facility may draw from the bond the actual 
                        reasonable costs incurred by the facility in 
                        providing the necessary care and keeping of the 
                        confiscated horse from the date of the initial 
                        confiscation to the date of final disposition 
                        of the horse in the criminal action charging a 
                        violation of this Act.
                    (C) Permanent placement.--Any horse confiscated 
                pursuant to this Act and not returned to the owner 
                thereafter (except where otherwise provided in 
                paragraph (4)) shall be placed permanently with an 
                animal rescue facility or other suitable facility as 
                described in this section upon--
                            (i) the conviction of the horse's owner 
                        pursuant to this Act;
                            (ii) the owner's surrender of the horse;
                            (iii) the failure of the horse's owner to 
                        post a bond as required in accordance with 
                        subparagraph (B); or
                            (iv) the Secretary's inability to identify 
                        the owner.
            (4) Euthanasia of horses.--
                    (A) Emergency circumstances.--The Secretary or any 
                law enforcement individual charged with enforcing this 
                Act may order or perform the immediate euthanasia of 
                any horse in the field when such horse is injured 
                beyond recovery and suffering irreversibly. Methods 
                used shall be in accordance with the most recent Report 
                of the American Veterinary Medical Association's Panel 
                on Euthanasia (2000) and State and local laws and may 
                include gunshot, but shall not include electrocution or 
                penetrating captive bolt.
                    (B) Horses beyond recovery and unplaceable.--The 
                Secretary or any individual charged with enforcing this 
                Act may order the euthanasia of any confiscated horse 
                when injured, disabled, or diseased beyond recovery or 
                when placement at an animal rescue facility or other 
                suitable facility, as described in this section, is not 
                possible within 90 days of any circumstance as 
                described in section 6(d)(3)(C). An equine or large-
                animal veterinarian shall perform the euthanasia rated 
                ``Acceptable'' for horses in the most recent Report of 
                the American Veterinary Medical Association's Panel on 
                Euthanasia (2000), but shall not include penetrating 
                captive bolt, electrocution, gunshot, or other non-
                chemical means.
    (e) Funding of Animal Rescue Facilities.--
            (1) Grants.--To the extent that funds are made available 
        for this purpose by Acts of appropriation, the Secretary shall 
        make grants to animal rescue facilities described in this 
        section that have given adequate assurances to the Secretary 
        that they are willing to accept horses confiscated pursuant to 
        this Act.
            (2) Penalties, fines, and forfeited property.--Amounts 
        received as penalties, fines, or forfeited property under this 
        Act shall be used for the care of any live horses seized from 
        violators of this Act and taken into the possession of the 
        United States or placed with an animal rescue facility as 
        described in this section.
    (f) Calculation of Violations.--For purposes of this section, a 
separate offense shall be calculated as follows:
            (1) Each live horse transported, traded, slaughtered, or 
        possessed in violation of this Act shall constitute a separate 
        offense.
            (2) Every four hundred pounds or less of confiscated 
        horseflesh shall constitute a separate offense.

SEC. 7. REPORT ON ENFORCEMENT EFFORTS.

     Not later than 2 years after the date of the enactment of this 
Act, and on an annual basis thereafter, the Secretary shall submit a 
report to Congress on the efforts of the United States Government to 
enforce the provisions of this Act and the adequacy of the resources to 
do so.

SEC. 8. EXEMPTIONS.

    (a) In General.--Except as provided in section 5, nothing in this 
Act shall be construed to affect the regulation by any State of its 
horse population.
    (b) Exception for Designated Law Enforcement Official Purposes.--A 
person described in section 4(7)(B) may engage in activities described 
in paragraphs (2), (3), and (4) of section 5 solely for purposes of 
enforcing this Act.

SEC. 9. DATE OF ENFORCEMENT.

     This Act shall take effect one year after the date of the 
enactment of this Act.
answer:
The American Horse Slaughter Prevention Act - Prohibits a person from: (1) slaughtering a horse for human consumption; (2) importing to, or exporting from, the United States horseflesh or horses for human consumption; (3) selling, bartering, transferring, receiving, or distributing horseflesh or horses for human consumption; or (4) soliciting or knowingly causing any such actions.Sets forth provisions respecting: (1) criminal and civil penalties; (2) enforcement authority of the Secretary of Agriculture; (3) placement of confiscated horses; (4) euthanasia of unplaceable or severely injured or diseased horses; (4) funding of animal rescue facilities; and (5) exemptions.


question:
SECTION 1. PRIVATE EDUCATION LOAN REFINANCING.

    Title IV of the Higher Education Act of 1965 (20 U.S.C. 1070 et 
seq.) is amended by adding at the end the following:

              ``PART J--PRIVATE EDUCATION LOAN REFINANCING

``SEC. 499A. PRIVATE EDUCATION LOAN REFINANCING FOR PHYSICIANS.

    ``(a) In General.--
            ``(1) Authority.--The Secretary shall carry out a Physician 
        Private Education Loan Refinancing Program in accordance with 
        this section.
            ``(2) Availability of funds.--There are hereby made 
        available, in accordance with the provisions of this section, 
        such sums as may be necessary to make loans under this section 
        through refinancing private education loans to all individuals 
        eligible to receive refinancing under this section.
            ``(3) Private education loan.--In this section, the term 
        `private education loan' has the meaning given the term 
        `qualified education loan' in section 221 of the Internal 
        Revenue Code, but does not include any loan made under this 
        title or under the Public Health Service Act.
    ``(b) Eligible Borrower.--An individual shall be eligible to 
receive private education loan refinancing under this section if the 
individual meets the following requirements:
            ``(1) The individual is participating in a residency 
        program, approved by the Accreditation Council for Graduate 
        Medical Education or the American Osteopathic Association, at a 
        hospital in one of the following specialties:
                    ``(A) Family medicine.
                    ``(B) Obstetrics/gynecology.
                    ``(C) General internal medicine.
                    ``(D) Gerontology.
                    ``(E) General pediatrics.
                    ``(F) General psychiatry.
            ``(2) The individual is not enrolled, on a half-time or 
        more basis, in an eligible institution under this title (as 
        such term is defined in section 435(a)).
            ``(3) The individual is indebted on at least 1 private 
        education loan for the period of enrollment preceding their 
        residency program.
            ``(4) The individual is not in default on a loan made, 
        insured, or guaranteed under this title.
            ``(5) The individual has not previously obtained 
        refinancing under this section.
    ``(c) Refinancing Under the Physician Private Education Loan 
Refinancing Program.--
            ``(1) In general.--The Secretary shall refinance a private 
        education loan in accordance with this section for an 
        individual who is eligible for private education loan 
        refinancing pursuant to subsection (b). Such refinancing loans 
        shall have the same terms and conditions as a Federal Direct 
        Consolidation Loan, except as provided in paragraphs (4) and 
        (5).
            ``(2) Types of loans eligible to be refinanced.--A private 
        education loan is eligible to be refinanced under this section 
        if the loan was incurred after July 1, 2008.
            ``(3) Loan limits.--The maximum amount of private education 
        loans that may be refinanced by an individual under this 
        section is an amount equal to the sum of unpaid principal, 
        accrued interest, and late charges of all private education 
        loans eligible under paragraph (2) incurred by such individual.
            ``(4) Interest rate.--The interest rate for a private 
        education loan refinanced under this section shall be 8.25 
        percent.
            ``(5) Repayment terms.--A loan refinanced under this 
        section shall have the same repayment terms, conditions, and 
        benefits as a Federal Direct Consolidation Loan, except that 
        such loan shall not be eligible for--
                    ``(A) consolidation with any other loan eligible 
                for loan consolidation under this title;
                    ``(B) income-based repayment terms under this 
                title; or
                    ``(C) any loan forgiveness or cancellation provided 
                under this title or under the Public Health Service 
                Act, except in the case of death or permanent and total 
                disability.
            ``(6) Loan application and promissory note.--The Secretary 
        shall develop and distribute a standard application and 
        promissory note and loan disclosure form for loans refinanced 
        under this section.
            ``(7) Loan disbursement.--The proceeds of any loan 
        refinanced under this section shall be paid by the Secretary 
        directly to the holder of the private education loan being 
        refinanced for the purpose of discharging or reducing the debt 
        on such private education loan on behalf of the borrower, 
        subject to repayment terms under this section.
    ``(d) Annual Report to Congress.--The Secretary shall report to 
Congress annually on the volume and repayment status of private 
education loans refinanced under this section.''.
answer:

Amends title IV (Student Assistance) of the Higher Education Act of 1965 to direct the Secretary of Education to refinance the private education loans of individuals who are participating in a residency program in: (1) family medicine; (2) obstetrics/gynecology; (3) general internal medicine; (4) gerontology; (5) general pediatrics; or (6) general psychiatry.

Sets the interest rate on the refinanced loans at 8.25%.

Requires the refinanced loans to have the same terms and conditions as a Direct Consolidation Loan, except they are made ineligible for: (1) consolidation with another loan eligible for consolidation under title IV; (2) income-based repayment terms under title IV; or (3) any loan forgiveness or cancellation under title IV or the Public Health Service Act, except in the case of death or permanent and total disability.