A bill to amend the Internal Revenue Code of 1954 to provide for a credit against the Federal income tax for certain higher education expenses.

Summary

Amends the Internal Revenue Code to allow as a credit against the income tax specified higher education expenses, including tuition and fees, paid or incurred by an individual during the taxable year for himself and for any dependent. States that if the expenses are for only one individual the amount of the credit shall be the sum of: (1) 50 percent of such expenses as does not exceed $200; (2) 25 percent of such expenses as exceeds $200 but not $500; and (3) five percent of such expenses as exceeds $500 but does not exceed $1,000. Increases the amount of the credit if more than one person's expenses are eligible. Disallows the deduction of any education expenses taken into account in determining the amount of such credit.

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Timeline

1. 22 July 1976

   Introduced

   Introduced in House

   Source: IntroReferral

2. 22 July 1976

   Introduced

   Referred to House Committee on Ways and Means.

   Source: IntroReferral

3. 22 July 1976

   Introduced

   Introduced in House

   Source: IntroReferral

Votes

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Versions

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Documents

1 official file

• Introduced in House

  summary · EN · 22 July 1976

  Open at official source

Sponsors

• Rep. Lehman, William [D-FL-17] · D · Sponsor
• · hswm00 · Standing

Related records

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