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 credit against income tax to individuals for expenses incurred in providing higher education for himself or any other individual. Provides that such credit be an amount equal to the sum of: (1) 100 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) 5 percent of so much of such expenses as exceeds $500 but does not exceed $1,500. Provides for the proration of credit where more than one taxpayer pays expenses.

This text is taken from the official record. PoliticalRepo does not editorialize.

Timeline

No timeline events have been ingested for this record yet.

Votes

No vote records are attached yet.

Versions

No version snapshots stored. Document URLs remain at the source.

Documents

1 official file

• Introduced in Senate

  summary · EN · 4 January 1973

  Open at official source

Sponsors

No sponsors or actors listed by the source.

Related records

No cross-record relationships stored yet.