Higher Education Opportunity Act of 2009

Summary

Higher Education Opportunity Act of 2009 - Amends the Internal Revenue Code to replace the hope scholarship and lifetime learning tax credits with a higher education opportunity tax credit. Allows a higher education opportunity tax credit for the lesser of: (1) the sum of 100% of qualified tuition and related expenses (including a certain allowance for books) up to $2,000, 50% for such expenses between $2,000 and $4,000, and 25% of such expenses between $4,000 and $8,000; or (2) the excess (if any) of $16,000 over aggregate credits from prior taxable years. Reduces credit amounts for taxpayers with modified adjusted gross incomes over $70,000 ($140,000 in the case of a joint return). Limits such credit to three eligible students per taxpayer in any taxable year. Denies such tax credit to certain part time students and students convicted of a felony drug offense. Repeals the tax deduction for qualified tuition and related expenses.

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Documents

3 official files

• Introduced in Senate (text)

  Introduced in Senate · EN · 14 January 2009

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• Introduced in Senate (PDF)

  Introduced in Senate · EN · 14 January 2009

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• Introduced in Senate

  summary · EN · 14 January 2009

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