A bill to amend the Internal Revenue Code of 1986 to provide a refundable credit for contributions to qualified tuition programs.
College Saver's Credit Act of 2007 - Amends the Internal Revenue Code to: (1) allow certain middle-income individual taxpayers age 18 or older a refundable tax credit for 50% of their contributions to a qualified tuition program (tax-exempt college savings plan), up to an annual limit of $2,000; and (2) require the distribution of financial education materials to participants in a qualified tuition program.
Requires the Secretary of the Treasury to study and report to Congress on the participation of individuals in qualified tuition programs.
Introduced in Senate
Sponsor introductory remarks on measure. (CR S5200-5201)
Read twice and referred to the Committee on Finance. (text of measure as introduced: CR S5201-5202)
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