term student loan repayment expenditure means any amount paid by an employer for principal or interest on any qualified education loan (as defined in section 221(d)(1)) incurred by an employee. (d) Qualified dependent 529 contribution For purposes of this section— (1) In general The term qualified dependent 529 contribution means any amount contributed by an employer to a qualified tuition program the designated beneficiary of which is a qualifying child of an employee. (2) Qualifying child The term qualifying child means a child who— (A) has not attained the age of 19 at the time of the contribution, or (B) is a student who has not attained the age of 24 at the time of the contribution. (e) Special rules (1) Self-employed individuals The term employee includes for any year, an individual who is an employee within the meaning of section 401(c)(1) (relating to self-employed individuals). (2) Employer An individual who owns the entire interest in an unincorporated trade or business shall be treated as his own employer. A partnership shall be treated as the employer of each partner who is an employee within the meaning of paragraph (2). . (b) Credit part of general business credit Section 38(b) of such Code is amended by striking plus at the end of paragraph (35), by striking the period at the end of paragraph (36) and inserting , plus , and by adding at the end the following new paragraph: (37) the employer-provided higher education assistance credit determined under section 45S. . (c) Denial of deduction Section 280C of such Code is amended by adding at the end the following new subsection: (j) Employer-Provided higher education assistance credit No deduction shall be allowed for that portion of the student loan repayment expenditures (as defined in section 45S(c)) and qualified dependent 529 contributions (as defined in section 45S(d)) otherwise allowable as a deduction for the taxable year which is equal to the amount of the credit determined for such taxable year under section 45S with respect to any such