A bill to amend the Internal Revenue Code of 1954 to allow a credit against income tax to individuals for certain expenses incurred in higher education.

Summary

Amends the Internal Revenue Code to allow a taxpayer a limited income tax credit for college or vocational education expenses. Reduces the amount of such credit by one percent of the amount by which the adjusted gross income of the taxpayer for the taxable year exceeds $22,500. Permits such credit for tuition and fees for education above the twelfth grade level and for books, supplies, and equipment required for coursework. Excludes expenses for meals and lodging and similar personal expenses.

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

Timeline

1. 28 July 1981

   Introduced

   Referred to House Committee on Ways and Means.

   Source: IntroReferral

2. 28 July 1981

   Introduced

   Introduced in House

   Source: IntroReferral

3. 28 July 1981

   Introduced

   Introduced in House

   Source: IntroReferral

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 · 28 July 1981

  Open at official source

Sponsors

• Rep. Hammerschmidt, John P. [R-AR-3] · R · Sponsor
• · hswm00 · Standing

Related records

• related to → A bill to amend the Internal Revenue Code of 1954 to allow a credit against income tax to individuals for certain expenses incurred in higher education.
• related to → A bill to amend the Internal Revenue Code of 1954 to allow a credit against income tax to individuals for certain expenses incurred in higher education.