; and (B) the Secretary of the Treasury, with respect to private education loans and borrowers of such private education loans. 5. Income share agreements (a) In general An individual who entered into an income share agreement to pay for education expenses of the individual shall not be required to make payments under such income share agreement for the duration of the COVID–19 emergency period and the 6-month period immediately following. (b) COVID–19 emergency period In this section, the term COVID–19 emergency period means the period that begins upon the date of the enactment of this Act and ends upon the date of the termination by the Federal Emergency Management Administration of the emergency declared on March 13, 2020, by the President under the Robert T. Stafford Disaster Relief and Emergency Assistance Act ( 42 U.S.C. 4121 et seq.) relating to the Coronavirus Disease 2019 (COVID–19) pandemic. 6. Exclusion from gross income (a) In general Part III of subchapter B of chapter 1 of the Internal Revenue Code of 1986 is amended by inserting after section 139H the following new section: 139I. Student loan payments resulting from the COVID–19 national emergency Gross income shall not include any payment made on behalf of the taxpayer under section 493E(b)(1) of the Higher Education Act of 1965, section 140(h) of the Truth in Lending Act, or section 4 of the Emergency Relief for Student Borrowers Act of 2020. . (b) Clerical amendment The table of sections for part III of subchapter B of chapter 1 of the Internal Revenue Code of 1986 is amended by inserting after the item relating to section 139H the following new item: Sec. 139I. Student loan payments resulting from the COVID–19 national emergency. . (c) Effective date The amendments made by this section shall apply to taxable years beginning after December 31, 2019.