To amend the Internal Revenue Code of 1986 to allow a credit against income tax for interest on education loans.

Summary

Amends the Internal Revenue Code to allow a credit for interest paid or incurred on a qualified education loan for a six-year period (whether or not consecutive). Limits such credit to $300 per individual whose education expenses are being financed by such loan. Allows higher limits for taxpayers with large amounts of education loan interest (not to exceed $500). Sets forth limits on the gross income of taxpayers eligible for such credit.

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

Timeline

1. 26 November 1991

   Introduced

   Referred to the House Committee on Ways and Means.

   Source: IntroReferral

2. 26 November 1991

   Introduced

   Introduced in House

   Source: IntroReferral

3. 26 November 1991

   Introduced

   Introduced in House

   Source: IntroReferral

Votes

No vote records are attached yet.

Versions

• Introduced in House · undated · Official file

Documents

2 official files

• Introduced in House (text)

  Introduced in House · EN

  ViewDownloadOpen at official source

• Introduced in House

  summary · EN · 26 November 1991

  Open at official source

Sponsors

• Rep. Russo, Martin A. [D-IL-3] · D · Sponsor
• · hswm00 · Standing

Related records

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