Technology Education Assistance and Development Act of 1983

Technology Education Assistance and Development Act of 1983 - Amends the Internal Revenue Code to allow corporations an increased income tax deduction for contributions of certain computer equipment to pre-college schools and certain other organizations which use the equipment for educational purposes. Limits the deduction to the lesser of: (1) the corporation's basis in the property plus 50 percent of its markup; or (2) twice its basis in the property.

Allows corporations an income tax deductions for contributions of scientific equipment to institutions of higher education for use in direct education or in research or research training in the fields of mathematics, engineering, computer science, the physical or biological/medical sciences, and certain vocational educational programs.

Allows corporations an income tax deduction for contributions of used scientific equipment to institutions of higher education. Limits the deduction to 150 percent of the taxpayer's original basis in the property, less accumulated depreciation.

Expands the income tax credit for increasing research expenditures to include contract research expenses for payments to universities for faculty salaries, scholarships, grants, or loans for graduate students in mathematics, engineering, or science. Excludes such contract research expenses from the calculation of base period amounts, for purposes of determining whether the taxpayer has increased expenditures for research.

Provides for an income tax exclusion of the scholarships, fellowship grants, student loan forgiveness, or stipends of a graduate student in mathematics, engineering, computer science, or the physical or biological sciences. Specifies that such tax exclusion is not forfeited merely because the student is required, as a condition of the scholarship or fellowship, to perform future service in teaching or research.