S. 2763 · 110th Congress
Higher Education Opportunity Act of 2008
Key: what the circles and colors mean
Each circle is a bill. The ring fills as it moves through Congress:
Under the number: the Yea · Nay count of its final (or latest) recorded vote. On a member's page, the small badge is how that member voted: Y Yea / Aye, N Nay / No, P Present, – Not voting.
Gold and violet are only for Yea and Nay; they never mean a party. A member's party is the letter on their photo.
Never voted on. It didn't reach a floor vote before the 110th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
D
SchumerSponsorNo cosponsors.
Higher Education Opportunity Act of 2008 - Amends the Internal Revenue Code to replace the hope and lifetime learning tax credits with a higher education opportunity tax credit.
What it does: CRS summary · Introduced in Senate · Mar 13, 2008
Higher Education Opportunity Act of 2008 - Amends the Internal Revenue Code to replace the hope and lifetime learning tax credits with a higher education opportunity tax credit.
Allows a higher education opportunity tax credit for 100% of qualified tuition and related expenses (including a certain allowance for books) up to $1,000, 50% for such expenses between $1,000 and $3,000, and 20% of such expenses between $3,000 and $5,500. Reduces credit amounts for taxpayers with modified adjusted gross incomes over $70,000 ($140,000 in the case of a joint return). Allows an increased tax credit for students who served certain periods of active duty in the Armed Forces after September 11, 2001.
Limits such credit to three eligible students per taxpayer in any taxable year and for four taxable years.
Denies such credit to certain part-time students and students convicted of a felony drug offense.
Repeals the tax deduction for qualified tuition and related expenses.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Higher Education Opportunity Act of 2008
Latest action (Mar 13, 2008): Read twice and referred to the Committee on Finance.
Policy area: Taxation · Origin: Senate · Introduced: Mar 13, 2008
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.