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

Summary

Allows a tax credit under the Internal Revenue Code to individuals for expenses incurred in providing higher education. Limits the amount of the tax credit per individual to: (1) 75 percent of so much of such expenses as does not exceed $200; (2) 25 percent of so much of such expenses as exceeds $200 but does not exceed $500, and (3) 10 percent of so much of such expenses as exceeds $500 but does not exceed $1,500. Reduces the amount of expenses by the amount of any scholarships or veterans' benefits received. Reduces the amount of the credit by one percent of the anount by which the adjusted gross income of the taxpayer exceeds $25,000.

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Timeline

1. 18 June 1973

   Introduced

   Referred to House Committee on Ways and Means.

   Source: IntroReferral

2. 18 June 1973

   Introduced

   Introduced in House

   Source: IntroReferral

3. 18 June 1973

   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 · 18 June 1973

  Open at official source

Sponsors

• Rep. Wolff, Lester L. [D-NY-6] · D · 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 providing higher education.