Educational Opportunity and Equity Act of 1983

(Reported to Senate from the Committee on Finance with amendment, S. Rept. 98-154)

Educational Opportunity and Equity Act of 1983 - Amends the Internal Revenue Code to allow an income tax credit for 50 percent of the tuition paid to an elementary or secondary educational institution for any dependents who have not attained the age of 20.

Limits such credit to: (1) $100 in 1983; (2) $200 in 1984; and (3) $300 in 1985 and thereafter. Phases out such credit for families with adjusted gross income between $40,000 and $50,000 per year. Makes ineligible for such credit families with an adjusted gross income in excess of $50,000 per year.

Disallows such credit for tuition paid to schools found to maintain racially discriminatory policies. Requires all education institutions which receive tuition payments for which such credit is taken to file with the Secretary of the Treasury a statement, subject to the penalties for perjury, declaring that the institution does not follow a racially discriminatory policy. Requires a taxpayer claiming such credit to attach a copy of such statement to the income tax return.

Authorizes the Attorney General, upon the filing of a petition alleging racial discrimination, to bring an action for declaratory judgment against an educational institution to determine whether the institution has followed a racially discriminatory policy.