Higher Education Opportunity Act of 2007

Summary

Higher Education Opportunity Act of 2007 - Amends the Internal Revenue Code to replace the hope and lifetime learning tax credits with a higher education opportunity tax credit. Allows a higher education opportunity tax credit for 100% of qualified tuition and related expenses (including a certain allowance for books) up to $1,000, 50% for such expenses between $1,000 and $3,000, and 20% of such expenses between $3,000 and $5,500. 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 and for four taxable years. Denies such 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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Timeline

1. 13 March 2007

   Introduced

   Read twice and referred to the Committee on Finance.

   Source: IntroReferral

2. 13 March 2007

   Introduced

   Introduced in Senate

   Source: IntroReferral

Votes

No vote records are attached yet.

Versions

• Introduced in Senate · 13 March 2007 · Download file

Documents

3 official files

• Introduced in Senate (text)

  Introduced in Senate · EN · 13 March 2007

  ViewDownloadOpen at official source

• Introduced in Senate (PDF)

  Introduced in Senate · EN · 13 March 2007

  ViewDownloadOpen at official source

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• Introduced in Senate

  summary · EN · 13 March 2007

  Open at official source

  Leesvertaling

  Vertaal dit document naar jouw taal. PoliticalRepo bewaart geen aparte kopie per EU-taal.

  Vertaal naarNL · DutchDE · GermanFR · FrenchES · SpanishIT · ItalianPL · PolishPT · PortugueseSV · SwedishDA · DanishFI · FinnishEL · GreekCS · CzechHU · HungarianRO · RomanianBG · BulgarianHR · CroatianSK · SlovakSL · SlovenianLT · LithuanianLV · LatvianET · EstonianGA · IrishMT · Maltese

  Vertaal document

  Documentvertaling op verzoek met downloadbare PDF (logo + link naar de officiële bron). Het bronbestand blijft leidend.

Sponsors

• Sen. Schumer, Charles E. [D-NY] · D · Sponsor
• Sen. Cantwell, Maria [D-WA] · D · Sponsor
• Sen. Stabenow, Debbie [D-MI] · D · Sponsor
• Sen. Brown, Sherrod [D-OH] · D · Sponsor
• Sen. McCaskill, Claire [D-MO] · D · Sponsor
• Sen. Bayh, Evan [D-IN] · D · Sponsor
• Sen. Salazar, Ken [D-CO] · D · Sponsor
• Sen. Tester, Jon [D-MT] · D · Sponsor
• Sen. Casey, Robert P., Jr. [D-PA] · D · Sponsor
• Sen. Lieberman, Joseph I. [ID-CT] · ID · Cosponsor
• · ssfi00 · Standing

Related records

• related to → Middle Class Opportunity Act of 2007
• related to → Middle Class Opportunity Act of 2007
• related to ← Higher Education Opportunity Act of 2008