To amend the Internal Revenue Code of 1986 to make the Hope and Lifetime Learning Credits refundable, and to allow taxpayers to obtain short-term student loans by using the future refund of such credits as collateral for the loans.

Fact Sheet API

Bill Number

HR 414

Introduced

Feb 6, 2001

Latest Action

Referred to the House Committee on Ways and Means.

Sponsor

Cosponsors

Topics

Education Fees Finance and Financial Sector Higher education Income tax Personal income tax Student loan funds Surety and fidelity Tax refunds Taxation Tuition tax credits

Full Text

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Votes

Summary

Amends the Internal Revenue Code to: (1) move the Hope and Lifetime Learning credits from subpart A (Nonrefundable Personal Credits) to subpart C (Refundable Credits); and (2) permit the use of a future refund of such credits as collateral for short-term student loans.

Actions

Feb 6, 2001

Referred to the House Committee on Ways and Means.
Feb 6, 2001

Introduced in House

Amendments

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