A bill to amend the Internal Revenue Code of 1954 to allow a credit against the individual income tax for tuition paid for the elementary or secondary education of dependents.

Summary

Allows a tax credit under the Internal Revenue Code to an individual for tuition paid by him to any private nonprofit elementary or secondary school during the taxable year for the elementary or secondary education of any independent with respect to whom the taxpayer is allowed an exemption. Limits this credit to the lesser of (A) 50 percent of the tuition paid by the taxpayer during the taxable year for the elementary or secondary education of such dependent, or (B) $500.

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Documents

1 official file

• Introduced in House

  summary · EN · 31 January 1973

  Open at official source

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