To amend the Internal Revenue Code of 1986 to coordinate the reduction in the American Opportunity Tax Credit with Federal Pell Grants, to the extent such grants are attributable to expenses not eligible for such credit.
Latest action · Dec 2, 2010 Referred to the House Committee on Ways and Means.
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.
- IntroducedDec 2, 2010
- Passed HouseNot reached
- Passed SenateNot reached
- To the PresidentNot reached
- Became lawNot reached
Summary
Amends the Internal Revenue Code, with respect to the American Opportunity Tax Credit, to provide that any credit amount which is attributable to a federal Pell Grant under the Higher Education Act of 1965 shall be reduced by the amount of expenses (other than qualified tuition and related expenses) which are taken into account in determining the cost of attendance at an institution of higher education for the academic period for which the credit amount is being determined. Modifies the definition of "qualified scholarship," for purposes of the tax exclusion for such scholarships, to eliminate the requirement that such scholarships be used for qualified tuition and related expenses and to include a federal Pell Grant as a qualified scholarship.
Cosponsors
Members who signed on, in the order they did.
Actions 2
Everything that happened, newest first.
- Dec 2, 2010Introduced in House
- Dec 2, 2010Referred to the House Committee on Ways and Means.
Subjects
Assigned by the Library of Congress. Policy area: Taxation.
Text 1
Each version as it was printed, newest first.
- Dec 2, 2010Introduced in House
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.