Tax credit for student loan interest.

Provides for a credit against an individual's adjusted gross income tax liability for student loan interest. Specifies that the amount of the credit is the lesser of $500 or the total amount expended for student loan interest during a taxable year. Specifies that for a married couple filing a joint return the maximum amount of the credit is $1,000. Provides that the Indiana commission for higher education shall study the feasibility of transferring up to $120,000,000 in unrestricted funds from the Indiana secondary market for education loans to the state general fund and submit a report with its findings to the state budget committee.