In this chapter, the following terms have the meaning indicated. “Commission” means the Maryland Higher Education Commission. “Comptroller” means the Comptroller of Maryland. “Debt burden” means the amount a qualified taxpayer is currently obligated to pay for a student loan debt. Lender. “Lender” means an entity, institution, or government that lends funds to a student, or on behalf of a student, to pay for charges for tuition or fees. “Lender” includes: A bank, mutual savings bank, savings and loan association, or credit union that is subject to examination and supervision in its capacity as a lender by an agency of the United States or of the state in which its principal place of operation is located; A pension fund that is subject to examination and supervision by an agency of the United States or a state; An insurance company that is subject to examination and supervision by an agency of the United States or a state; In any state, a single agency of the state or a single private nonprofit agency designated by the state to lend funds to a student or manage student loan debt; For purposes of purchasing and holding loans made by other lenders, a student loan marketing association or an agency of any state or the federal government functioning as a secondary market; and The United States Department of Education, federal Department of Veterans Affairs, federal Department of Defense, and any other federal agency. “Secretary” means the Maryland Secretary of Higher Education. “Student loan debt” means an individual’s obligation to repay a lender for monies borrowed by the individual to pursue an undergraduate or graduate education at an institution of higher education that is accredited by an accrediting body recognized by the United States Department of Education. “Student Loan Debt Relief Tax Credit” means the tax credit authorized under Tax-General Article, §10-740, Annotated Code of Maryland. “Qualified taxpayer” means an individual who has: Incurred at least $20,000 in student loan debt; and At least $5,000 in outstanding student loan debt as of the submission date of an application under Regulation .04 of this chapter.