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

Summary

Amends the Internal Revenue Code to allow taxpayers to credit against the income tax specified higher education expenses, including tuition, fees, books, and supplies, incurred by the taxpayer for himself or any other individual. Limits the credit to 75 percent of the first $200 for any individual, 25 percent of the next $300, and 10 percent of the next $1,000. Limits the credit to expenses incurred by full time students at institutions of post secondary education, minus scholarships and veterans' benefits. Limits the total credit allowed the taxpayer to his income tax liability minus the sum of all other credits applied thereto. Disallows any deduction of educational expenses used to determine the amount of the credit allowed by this Act.

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Timeline

1. 14 March 1977

   Introduced

   Referred to House Committee on Ways and Means.

   Source: IntroReferral

2. 14 March 1977

   Introduced

   Introduced in House

   Source: IntroReferral

3. 14 March 1977

   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 · 14 March 1977

  Open at official source

Sponsors

• Rep. Edwards, Jack [R-AL-1] · R · Sponsor
• · hswm00 · Standing

Related records

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