Middle Class College Tuition Tax Credit Expansion Act of 2016

Summary

Middle Class College Tuition Tax Credit Expansion Act of 2016 This bill amends the Internal Revenue Code to replace the Hope Scholarship and Lifetime Learning tax credits with a new American Opportunity Tax Credit that: allows an increased income tax credit for the qualified tuition and related expenses of a student who is carrying at least one half of a normal course load, increases the income threshold for reductions in the credit amount based upon modified adjusted gross income, allows a lifetime dollar limitation on such credit of $25,000 for all taxable years, prohibits taxpayers who have fraudulently or recklessly claimed the credit from receiving the credit during a specified disallowance period, and makes 50% of the credit refundable. The bill also allows an exclusion from gross income of any amount received as a Federal Pell Grant.

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Timeline

1. 3 June 2016

   Introduced

   Referred to the House Committee on Ways and Means.

   Source: IntroReferral

2. 3 June 2016

   Introduced

   Introduced in House

   Source: IntroReferral

3. 3 June 2016

   Introduced

   Introduced in House

   Source: IntroReferral

Votes

No vote records are attached yet.

Versions

• Introduced in House · 3 June 2016 · Download file

Documents

3 official files

• Introduced in House (text)

  Introduced in House · EN · 3 June 2016

  ViewDownloadOpen at official source

• Introduced in House (PDF)

  Introduced in House · EN · 3 June 2016

  ViewDownloadOpen at official source

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• Introduced in House

  summary · EN · 3 June 2016

  Open at official source

  Leesvertaling

  Vertaal dit document naar jouw taal. PoliticalRepo bewaart geen aparte kopie per EU-taal.

  Vertaal naarNL · DutchDE · GermanFR · FrenchES · SpanishIT · ItalianPL · PolishPT · PortugueseSV · SwedishDA · DanishFI · FinnishEL · GreekCS · CzechHU · HungarianRO · RomanianBG · BulgarianHR · CroatianSK · SlovakSL · SlovenianLT · LithuanianLV · LatvianET · EstonianGA · IrishMT · Maltese

  Vertaal document

  Documentvertaling op verzoek met downloadbare PDF (logo + link naar de officiële bron). Het bronbestand blijft leidend.

Sponsors

• Rep. Israel, Steve [D-NY-3] · D · Sponsor
• · hswm00 · Standing

Related records

• related to → American Opportunity Tax Credit Act of 2015
• related to → American Opportunity Tax Credit Permanence and Consolidation Act of 2015