- Not enactedThe President has not signed this bill
- The senate has not voted
- The house has not voted
Committee on Ways and MeansIntroducedNovember 13th, 2013
- house Committees
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Middle Class College Tuition Tax Credit Expansion Act
To amend the Internal Revenue Code of 1986 to extend and modify the American Opportunity Tax Credit, and for other purposes.
Middle Class College Tuition Tax Credit Expansion Act - 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.