Tuition Tax Relief Act

Summary

Tuition Tax Relief Act - Amends the Internal Revenue Code to allow individual taxpayers an income tax credit for 50 percent of the tuition paid for the elementary, secondary, college, or post-secondary vocational education of the taxpayer, his spouse, or any of his dependents. Sets forth maximum dollar amounts allowable as a credit for calendar years 1980, 1981, 1982 and thereafter. Treats tuition payments as paid for calendar year 1980, only if such payments are made on or after August 1, 1980, and before February 1, 1981, for education furnished on or after August 1, 1980, and before January 1, 1981. Treats tuition payments as paid for calendar year 1981 and thereafter only if such payments are made during the particular calendar year or within one month of the beginning or close of such calendar year for education furnished during that year. Excludes graduate students from eligibility for the credit. Requires full-time or qualified half-time attendance at an eligible educational institution. Excludes from the definition of "tuition" any amounts paid for books, supplies, and equipment for courses of instruction, meals, lodging, transportation, or education below the first-grade level. Forbids any construction of this Act as granting the Government additional authority to examine the books or activities of any church school except to the extent necessary to determine whether such school is an eligible educational institution. Provides that an educational institution which enrolls a student for whom a tax credit is claimed under this Act shall not be considered to be a recipient of Federal assistance. Requires the disregard of any amount received by the taxpayer as a tuition tax credit for purposes of determining the eligibility of the taxpayer for Federal or State educational assistance.

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1 official file

• Introduced in Senate

  summary · EN · 8 May 1979

  Open at official source

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