H.R. 6522 (112th): Middle Class College Tuition Tax Credit Expansion Act of 2012

Introduced:
Sep 21, 2012 (112th Congress, 2011–2013)
Sponsor:
Rep. Steve Israel [D-NY2]
Status:
Died (Referred to Committee)

The bill’s title was written by the bill’s sponsor. H.R. stands for House of Representatives bill.

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Status

This bill was introduced on September 21, 2012, in a previous session of Congress, but was not enacted.

Progress
Introduced Sep 21, 2012
Referred to Committee Sep 21, 2012
Cosponsors
none
Committees

House Ways and Means

The committee chair determines whether a bill will move past the committee stage.

Full Title

To amend the Internal Revenue Code of 1986 to extend and modify the American Opportunity Tax Credit, and for other purposes.

Summary

No summaries available.

Text

Read Bill Text »

Last updated Sep 21, 2012.
16 pages

Primary Source

View on THOMAS (The Library of Congress)

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GovTrack’s Bill Summary

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Library of Congress Summary

The summary below was written by the Congressional Research Service, which is a nonpartisan division of the Library of Congress.

9/21/2012--Introduced.
Middle Class College Tuition Tax Credit Expansion Act of 2012 - Amends the Internal Revenue Code to replace the Hope Scholarship and Lifetime Learning tax credits with a new American Opportunity Tax Credit that:
(1) allows an increased income tax credit for the qualified tuition and related expenses of a student who is carrying at least one half of a normal course load,
(2) increases the income threshold for reductions in the credit amount based upon modified adjusted gross income,
(3) allows a lifetime dollar limitation on such credit of $25,000 for all taxable years, and
(4) makes 50% of the credit refundable.
Allows an exclusion from gross income of any amount received as a Federal Pell Grant.

House Republican Conference Summary

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No summary available.

House Democratic Caucus Summary

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