Higher Education Opportunity Act of 2009 - Amends the Internal Revenue Code to replace the hope scholarship and lifetime learning tax credits with a higher education opportunity tax credit.
Allows a higher education opportunity tax credit for the lesser of: (1) the sum of 100% of qualified tuition and related expenses (including a certain allowance for books) up to $2,000, 50% for such expenses between $2,000 and $4,000, and 25% of such expenses between $4,000 and $8,000; or (2) the excess (if any) of $16,000 over aggregate credits from prior taxable years. Reduces credit amounts for taxpayers with modified adjusted gross incomes over $70,000 ($140,000 in the case of a joint return).
Limits such credit to three eligible students per taxpayer in any taxable year.
Denies such tax credit to certain part time students and students convicted of a felony drug offense.
Repeals the tax deduction for qualified tuition and related expenses.