Provides for the deduction of student loan interest from federal adjusted gross income

This bill allows taxpayers to deduct interest paid on qualified student loans from their federal adjusted gross income (AGI). It directly affects individuals with student loan debt who itemize deductions or meet specific income thresholds. The key provision adds a new tax law section requiring this deduction, aligning with existing federal rules under 26 USC § 221. The change applies to taxable years beginning January 1, 2026, and would reduce taxable income for eligible borrowers.