College Preparation Tax Credit Act of 2016

Summary

College Preparation Tax Credit Act of 2016 This bill amends the Internal Revenue Code to allow an individual taxpayer a tax credit for up to $500 of qualified college preparation expenses. An individual may use the credit for up to three years for qualified college preparation expenses that include: the fees required for taking any Advanced Placement or International Baccalaureate exam, the SAT, the ACT, or any SAT subject test; expenses related to preparation for the exams; fees and expenses related to applications for admission to pursue a postsecondary course of study at an institution of higher education; and similar expenses and fees prescribed by the Internal Revenue Service in regulations.

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3 official files

• Introduced in House (text)

  Introduced in House · EN · 3 June 2016

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• Introduced in House (PDF)

  Introduced in House · EN · 3 June 2016

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• Introduced in House

  summary · EN · 3 June 2016

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