of 1986 is amended by striking subparagraph (B). (c) Effective date The amendments made by this section shall apply to taxable years beginning after December 31, 2016. 11. Permanent extension of treatment of student loans discharged on account of death or disability (a) In general Subparagraph (A) of section 108(f)(5) of the Internal Revenue Code of 1986 is amended by striking and before January 1, 2026, . (b) Effective date The amendment made by this section shall apply to discharges of indebtedness after December 31, 2017. 12. Repeal of deduction for personal exemptions (a) In general Part V of subchapter B of chapter 1 of the Internal Revenue Code of 1986 is hereby repealed. (b) Definition of dependent retained Section 152 of the Internal Revenue Code of 1986, prior to repeal by subsection (a), is hereby redesignated as section 7706 of such Code and moved to the end of chapter 79 of such Code. (c) Application to estates and trusts Subparagraph (C) of section 642(b)(2) of the Internal Revenue Code of 1986 is amended— (1) by striking the exemption amount under section 151(d) in clause (i) and inserting $4,150 , and (2) by striking clause (iii) and inserting the following: (iii) Inflation adjustment In the case of any taxable year beginning in a calendar year after 2018, the $4,150 amount in clause (i) shall be increased by an amount equal to— (I) such dollar amount, multiplied by (II) the cost-of-living adjustment determined under section 1(f)(3) for the calendar year in which the taxable begins, determined by substituting 2017 for 2016 in subparagraph (A)(ii) thereof. If any increase determined under the preceding sentence is not a multiple of $100, such increase shall be rounded to the next lowest multiple of $100. . (d) Application to nonresident aliens Section 873(b) of the Internal Revenue Code of 1986 is amended by striking paragraph (3). (e) Modification of return requirement (1) In general Section 6012 of the Internal Revenue Code of 1986 is amended— (A) by striking paragraph (1) of subsection (a) and