Higher Education Gift Incentive Act

Summary

Higher Education Gift Incentive Act - Allows under the Internal Revenue Code an income tax credit equal to the amounts of charitable contributions made to any institution of higher education. Limits such credit, in the case of taxpayers other than corporations, to the lesser of 20 percent of the taxpayers total tax or $100. Places such limit at 10 percent of a corporation's total tax or $5,000 whichever is less. Bars treatment of a contribution as both a tax deduction and a tax credit and specifies that the credit is not to result in a tax refund.

This text is taken from the official record. PoliticalRepo does not editorialize.

Timeline

No timeline events have been ingested for this record yet.

Votes

No vote records are attached yet.

Versions

No version snapshots stored. Document URLs remain at the source.

Documents

1 official file

• Introduced in House

  summary · EN · 3 January 1973

  Open at official source

Sponsors

No sponsors or actors listed by the source.

Related records

No cross-record relationships stored yet.