College Affordability and Creating Chances for Educational Success for Students Act of 2007
Latest action · May 15, 2007 Read twice and referred to the Committee on Finance.
Progress
Where this bill reached, and when. A stage with no date was not reached; one that failed a vote and later carried shows the date it carried.
- IntroducedMay 15, 2007
- Passed SenateNot reached
- Passed HouseNot reached
- To the PresidentNot reached
- Became lawNot reached
Summary
College Affordability and Creating Chances for Educational Success for Students Act of 2007 - College ACCESS Tax Credit Act - Amends the Internal Revenue Code to replace the Hope Scholarship Credit and the tuition and related expenses deduction with a refundable College Affordability and Creating Chances for Educational Success for Students (ACCESS) tax credit.
Sets the maximum yearly credit at $3,000 and the maximum lifetime credit for undergraduate and graduate education at $12,000 and $6,000, respectively. Requires annual inflation adjustments to such amounts.
Amends the Higher Education Act of 1965 to authorize an Early Federal Pell Grant Demonstration Program.
Directs the Secretary of Education to award grants to four states to cover administrative expenses incurred in the program. Limits a state to a cohort of up to 10,000 of its eighth grade students who are eligible for a free or reduced price meal under the Richard B. Russell National School Lunch Act or the Child Nutrition Act of 1966. Provides for a cohort for each of the academic years 2007-2008 and 2008-2009. Declares that each student who participates in the demonstration project receives a commitment to receive a Pell Grant during their first year of undergraduate study at an institution of higher education, subject to a specified condition.
Requires state grantees to choose local educational agencies to participate in the program from among those serving students at least half of whom are eligible for free or reduced price meals.
Calculates participating students' Pell Grants by deeming them to have no expected family contribution.
Directs the Secretary to arrange for an independent evaluation of the demonstration program's effectiveness in providing needy students with access to, and an incentive to pursue, higher education.
Requires state grantees annually to provide program participants with information concerning college costs, Pell Grants, state college savings programs, and other state and federal aid programs.
Increases the maximum Pell Grant amount from $5,100 for academic year 2007-2008 by specified levels up to $6,300 for academic year 2011-2012.
Cosponsors
Members who signed on, in the order they did.
Committees 1
Where it was sent and what each committee and subcommittee did with it, in order.
| Chamber | Committee | What it did |
|---|---|---|
| Senate | Finance Committee | Referred May 15, 2007 |
Actions 3
Everything that happened, newest first.
- May 15, 2007Introduced in Senate
- May 15, 2007Sponsor introductory remarks on measure. (CR S6138-6139)
- May 15, 2007Read twice and referred to the Committee on Finance.
In the Congressional Record 2
Days the Record’s own index lists this bill, newest first, with the pages and the members it names. Pages starting H are the House, S the Senate, E Extensions of Remarks.
| Where | In the Record | Members | Date |
|---|---|---|---|
| Senate | Debate and remarks S2104 | Joseph R. Biden Jr. D-DE | Mar 13, 2008 |
| Senate | Debate and remarks S6138Summaries S6138 | Joseph R. Biden Jr. D-DE | May 15, 2007 |
Related bills 1
Companion bills and other measures the record links to this one.
| Bill | Title | Relationship | Latest action |
|---|---|---|---|
| S 1467 | A bill to establish an establish an Early Federal Pell Grant Commitment Demonstration Program. | Related bill | May 23, 2007 |
Titles 3
Every title it has carried, official and short, at each stage.
- Official Title as Introduced
- A bill to amend the Internal Revenue Code of 1986 to combine the Hope Scholarship Credit and the deduction for qualified tuition and related expenses into a refundable college affordability and creating chances for educational success for students (ACCESS) credit, to establish an Early Federal Pell Grant Commitment Demonstration Program, and to increase the maximum Federal Pell Grant Award.
- Short Titles as Introduced
- College Affordability and Creating Chances for Educational Success for Students Act of 2007
- Short Titles as Introduced for portions of this bill
- College ACCESS Tax Credit Act
Subjects
Assigned by the Library of Congress. Policy area: Education.
- Agriculture and Food
- College costs
- Cost effectiveness
- Cost of living adjustments
- Crime and Law Enforcement
- Drug abuse
- Drug traffic
- Economics and Public Finance
- Education
- Education of the disadvantaged
- Education savings accounts
- Educational accountability
- Educational statistics
- Elementary and secondary education
- Federal aid to education
- Government Operations and Politics
- Government publicity
- Governmental investigations
- Graduate education
- Higher education
- Income tax
- Indexing (Economic policy)
- Scholarships
- School districts
- School lunch program
- Secondary education
- Social Welfare
- Student aid
- Student records
- Tax deductions
- Tax refunds
- Taxation
- Tuition tax credits
Text 1
Each version as it was printed, newest first.
- May 15, 2007Introduced in Senate
Everything here is as published by Congress: the summary is the Congressional Research Service's, the action wording is the clerks', and the subjects are the Library of Congress's. How far it got is read from the actions themselves, taking the most recent one of each kind, so a bill that failed a vote and later passed is shown as having passed. Records come from this bill on Congress.gov and govinfo.gov; cost estimates are the Congressional Budget Office's, and the hearings are the printed hearings GovInfo publishes, which can appear months after the hearing.
