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United States · Bill · S

S. 699 (114th)

American Opportunity Tax Credit Permanence and Consolidation Act of 2015

referredUnited States· United States Congress· EN

Introduced

10 March 2015

Last action

10 March 2015 · Introduced

Status

Read twice and referred to the Committee on Finance.

Sponsors

Charles Schumer, Sen. Reid, Harry [D-NV], Ron Wyden, Sen. Brown, Sherrod [D-OH], Sen. Stabenow, Debbie [D-MI], Richard Durbin, Patty Murray, Sheldon Whitehouse, Rep. Cardin, Benjamin L. [D-MD-3], Jeanne Shaheen, Sen. Menendez, Robert [D-NJ], Sen. Casey, Robert P., Jr. [D-PA]

Subjects

Taxation

Source updated

12 August 2025

Taxation

Official sourceDownload fileView documentsShare

Summary

American Opportunity Tax Credit Permanence and Consolidation Act of 2015 Amends the Internal Revenue Code to replace the Hope Scholarship and Lifetime Learning tax credits with a new American Opportunity Tax Credit that: (1) allows an income tax credit of up to $3,000 of the qualified tuition and related expenses of a student who is carrying at least one half of a normal course load, (2) increases the income threshold for reductions in the credit amount based upon modified adjusted gross income, (3) imposes a lifetime dollar limitation on such credit of $15,000 for all taxable years, and (4) makes a portion of the credit refundable. Allows an exclusion from gross income of any amount received as a Federal Pell Grant.

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

Timeline

  1. 10 March 2015

    Introduced

    Read twice and referred to the Committee on Finance.

    Source: IntroReferral

  2. 10 March 2015

    Introduced

    Introduced in Senate

    Source: IntroReferral

Votes

No vote records are attached yet.

Versions

Documents

3 official files

Sponsors

Related records

Sources

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