; or (2) the total amount of outstanding principal and interest due on such loans of the borrower, as of the date of the calculation under this subsection. (b) Data To implement Contractors of the Secretary and lenders and guaranty agencies holding loans made, insured, or guaranteed under part B shall report, to the satisfaction of the Secretary, the information necessary to calculate the amount to be applied under subsection (a). . 3. 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 a national emergency Gross income shall not include any payment made on behalf of the taxpayer under section 493E(b)(1) or 493F of the Higher Education Act of 1965. . (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 a national emergency. . (c) Effective date The amendments made by this section shall apply to taxable years beginning after December 31, 2019.