Welcome to Scribd, the world's digital library. Read, publish, and share books and documents. See more
Download
Standard view
Full view
of .
Look up keyword
Like this
1Activity
0 of .
Results for:
No results containing your search query
P. 1
Educational Opportunities Act H.R. 1381

Educational Opportunities Act H.R. 1381

Ratings: (0)|Views: 3|Likes:
Published by Jeremy Murphy
Educational Opportunities Act (H.R. 1381) co-sponsored by U.S. Reps. Todd Rokita (IN), Tom Cole (OK), Jeff Duncan (SC), Trent Franks (AZ), Andy Harris (MD), Doug LaMalfa (CA), Luke Messer (IN), Robert Pittenger (NC), and Joe Pitts (PA).
Companion bill in U.S. Senate: S. 297 (Sen. Rubio).
Educational Opportunities Act (H.R. 1381) co-sponsored by U.S. Reps. Todd Rokita (IN), Tom Cole (OK), Jeff Duncan (SC), Trent Franks (AZ), Andy Harris (MD), Doug LaMalfa (CA), Luke Messer (IN), Robert Pittenger (NC), and Joe Pitts (PA).
Companion bill in U.S. Senate: S. 297 (Sen. Rubio).

More info:

Published by: Jeremy Murphy on Mar 26, 2013
Copyright:Attribution Non-commercial

Availability:

Read on Scribd mobile: iPhone, iPad and Android.
download as PDF, TXT or read online from Scribd
See more
See less

08/02/2014

pdf

text

original

 
.....................................................................(Original Signature of Member)
113
TH
CONGRESS1
ST
S
ESSION
 
H. R.
 ll 
 
To amend the Internal Revenue Code of 1986 to allow a credit againsttax for qualified elementary and secondary education tuition.
IN THE HOUSE OF REPRESENTATIVES
Mr. R
OKITA 
introduced the following bill; which was referred to the Committeeon
 llllllllllllll 
 
A BILL
 
To amend the Internal Revenue Code of 1986 to allow acredit against tax for qualified elementary and secondary education tuition.
 Be it enacted by the Senate and House of Representa-
1
tives of the United States of America in Congress assembled,
2
SECTION 1. SHORT TITLE.
3
This Act may be cited as the ‘‘Educational Opportu-
4
nities Act’’.
5
SEC. 2. TAX CREDIT FOR CONTRIBUTIONS TO SCHOLAR-
6
SHIP GRANTING ORGANIZATIONS.
7
(a) C
REDIT FOR
I
NDIVIDUALS
.—
8
VerDate 0ct 09 2002 16:49 Mar 01, 2013Jkt 000000PO 00000Frm 00001Fmt 6652Sfmt 6201C:\DOCUME~1\EWBALLOU\APPLIC~1\SOFTQUAD\XMETAL\5.5\GEN\C\ROKITA~1.XML
March 1, 2013 (4:49 p.m.)
F:\M13\ROKITA\ROKITA_009.XML
f:\VHLC\030113\030113.111.xml (543534|1)
 
2(1) I
N GENERAL
.—Subpart A of part IV of sub-
1
chapter A of chapter 1 of the Internal Revenue Code
2
of 1986 is amended by inserting after section 25D
3
the following new section:
4
‘‘SEC. 25E. QUALIFIED ELEMENTARY AND SECONDARY EDU-
5
CATION TUITION.
6
‘‘(a) A 
LLOWANCE OF
C
REDIT
.—In the case of an in-
7
dividual, there shall be allowed as a credit against the tax 
8
imposed by this chapter for the taxable year an amount
9
equal to the amount of qualified contributions made by 
10
the taxpayer during the taxable year.
11
‘‘(b) D
OLLAR
L
IMITATION
.—The amount allowed as
12
a credit under subsection (a) with respect to any taxpayer
13
shall not exceed—
14
‘‘(1) $2,250, in the case of a married individual
15
filing a separate return, and
16
‘‘(2) $4,500, in any other case.
17
‘‘(c) Q
UALIFIED
C
ONTRIBUTIONS
; O
THER
D
EFINI
-
18
TIONS
.—For purposes of this section—
19
‘‘(1) Q
UALIFIED CONTRIBUTION
.—The term
20
‘qualified contribution’ means a charitable contribu-
21
tion (as defined by section 170(c)) to an scholarship
22
granting organization.
23
VerDate 0ct 09 2002 16:49 Mar 01, 2013Jkt 000000PO 00000Frm 00002Fmt 6652Sfmt 6201C:\DOCUME~1\EWBALLOU\APPLIC~1\SOFTQUAD\XMETAL\5.5\GEN\C\ROKITA~1.XML
March 1, 2013 (4:49 p.m.)
F:\M13\ROKITA\ROKITA_009.XML
f:\VHLC\030113\030113.111.xml (543534|1)
 
3‘‘(2) S
CHOLARSHIP GRANTING ORGANIZA 
-
1
TION
.—The term ‘scholarship granting organization’
2
means any organization—
3
‘‘(A) which is described in section
4
501(c)(3) and exempt from tax under section
5
501(a),
6
‘‘(B) whose exclusive purpose is to provide
7
scholarships for the qualified elementary and
8
secondary education expenses of eligible stu-
9
dents, and
10
‘‘(C) which meets the requirements of sub-
11
section (d).
12
‘‘(3) E
LIGIBLE STUDENT
.—The term ‘eligible
13
student’ means an individual—
14
‘‘(A) who is enrolled in an elementary or
15
secondary school (within the meaning of section
16
530(b)(3)(B), after the application of para-
17
graph (4)(B)), and
18
‘‘(B) who is a member of a household with
19
a total annual household income which does not
20
exceed 250 percent of the Federal poverty 
21
guidelines (as determined by the Secretary of 
22
Health and Human Services).
23
‘‘(4) Q
UALIFIED ELEMENTARY AND SECONDARY 
 
24
EDUCATION EXPENSES
.—The term ‘qualified ele-
25
VerDate 0ct 09 2002 16:49 Mar 01, 2013Jkt 000000PO 00000Frm 00003Fmt 6652Sfmt 6201C:\DOCUME~1\EWBALLOU\APPLIC~1\SOFTQUAD\XMETAL\5.5\GEN\C\ROKITA~1.XML
March 1, 2013 (4:49 p.m.)
F:\M13\ROKITA\ROKITA_009.XML
f:\VHLC\030113\030113.111.xml (543534|1)

You're Reading a Free Preview

Download
scribd
/*********** DO NOT ALTER ANYTHING BELOW THIS LINE ! ************/ var s_code=s.t();if(s_code)document.write(s_code)//-->