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H.R. 2150 · 108th Congress

To amend the Internal Revenue Code of 1986 to make the Hope and Lifetime Learning Credits refundable, and to…

Full title

To amend the Internal Revenue Code of 1986 to make the Hope and Lifetime Learning Credits refundable, and to allow taxpayers to obtain short-term student loans by using the future refund of such credits as collateral for the loans.

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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.

RAD AndrewsSponsor

No cosponsors.

Amends the Internal Revenue Code to: (1) move the Hope and Lifetime Learning credits from subpart A (Nonrefundable Personal Credits) to subpart C (Refundable Credits); and (2) permit the use of a future refund of such credits as collateral for short-term student loans. Establishes a three-year limit on the use of a refund as collateral.

What it does: CRS summary · Introduced in House · May 19, 2003
Amends the Internal Revenue Code to: (1) move the Hope and Lifetime Learning credits from subpart A (Nonrefundable Personal Credits) to subpart C (Refundable Credits); and (2) permit the use of a future refund of such credits as collateral for short-term student loans.

Establishes a three-year limit on the use of a refund as collateral.

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

About this bill and sources

Official title: To amend the Internal Revenue Code of 1986 to make the Hope and Lifetime Learning Credits refundable, and to allow taxpayers to obtain short-term student loans by using the future refund of such credits as collateral for the loans.

Latest action (May 19, 2003): Referred to the House Committee on Ways and Means.

Policy area: Taxation · Origin: House · Introduced: May 19, 2003

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

No recorded floor vote found.