To amend the Internal Revenue Code of 1986 to extend and modify the American Opportunity Tax Credit, and for other purposes.
Middle Class College Tuition Tax Credit Expansion Act - 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 increased income tax credit for 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) allows a lifetime dollar limitation on such credit of $25,000 for all taxable years, and (4) makes 50% of the credit refundable. Allows an exclusion from gross income of any amount received as a Federal Pell Grant.
Referred to the House Committee on Ways and Means.
Referred to the House Committee on Ways and Means.
Read the second time. Placed on Senate Legislative Calendar under General Orders. Calendar No. 493.
Referred to the Committee on Ways and Means, and in addition to the Committee on Education and the Workforce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Read twice and referred to the Committee on Finance.
Read twice and referred to the Committee on Finance.
Introduced in House
Introduced in House
Referred to the House Committee on Ways and Means.
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