Children's Education Tax Credit Act - Amends the Internal Revenue Code to establish a tax credit (of up to $1,000) for the qualified educational expenses (tuition, attendance fees, books, supplies, equipment, but excluding meals and lodging) paid by a taxpayer for the education of each individual with respect to whom the taxpayer is allowed a deduction as a dependent.
Provides for: (1) the inclusion of certain home schooling expenses; and (2) adjustments for certain scholarships.
Defines "eligible educational institution" as a secondary school, an elementary school, or any private, parochial, religious, or home school providing elementary or secondary education.
Introduced in House
Introduced in House
Sponsor introductory remarks on measure. (CR E149-150)
Referred to the House Committee on Ways and Means.
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