Elementary and Secondary Tuition Tax Credit Act of 1981

Elementary and Secondary Tuition Tax Credit Act of 1981 - Amends the Internal Revenue Code to allow a taxpayer an income tax credit for tuition paid to a privately operated elementary or secondary school for the education of the taxpayer or the taxpayer's spouse or dependents. Limits the amount of the credit to 25 percent of the tuition paid. Allows a maximum $100 credit in 1981 and a maximum $150 credit in 1982 and 1983, after which the credit expires.

Requires the individual for whom the tuition tax credit is allowed by this Act to be a full-time or half-time student during any four months of the calendar year. Excludes from the definition of "tuition" any amounts paid for books, supplies, meals, lodging, transportation, and education below the first-grade level or above the twelfth-grade level.

Forbids any construction of this Act as granting the Government additional authority to examine the books or activities of any church school except to the extent necessary to determine whether such school is an elementary or secondary school.

Provides for the immediate certification of any judicial action brought in a United States district court concerning the constitutionality of this Act to the appropriate circuit court of appeals. Authorizes direct appeal to the Supreme Court of any such decision by a circuit court. Requires the expedited consideration of such a case at both judicial levels.

Requires that any amount received by the taxpayer as a tuition tax credit be disregarded for purposes of determining the eligibility of the taxpayer for Federal, State, or local educational assistance.