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H.R. 1304 · 108th Congress

College Affordability and Lifetime Savings Act

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IntroducedPassed one chamberPassed both chambersBecame law (gold)Resolution agreed to (full, dark)Failed or vetoed (gray)

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Never voted on. It didn't reach a floor vote before the 108th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.

College Affordability and Lifetime Savings Act - Amends the Internal Revenue Code to: (1) convert the current deduction for interest on education loans to a credit equal to 50 percent of the interest paid during the taxable year on any qualified education loan; and (2) exclude from gross income amounts which would be included under specified loan…

What it does: CRS summary · Introduced in House · Mar 18, 2003
College Affordability and Lifetime Savings Act - Amends the Internal Revenue Code to: (1) convert the current deduction for interest on education loans to a credit equal to 50 percent of the interest paid during the taxable year on any qualified education loan; and (2) exclude from gross income amounts which would be included under specified loan forgiveness programs for teachers and other public servants.

Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov

About this bill and sources

Official title: College Affordability and Lifetime Savings Act

Latest action (Mar 18, 2003): Referred to the House Committee on Ways and Means.

Policy area: Taxation · Origin: House · Introduced: Mar 18, 2003

Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)

No recorded floor vote found.