H.R. 5381 · 114th Congress
College Preparation Tax Credit Act of 2016
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Never voted on. It didn't reach a floor vote before the 114th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
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IsraelSponsorNo cosponsors.
This bill amends the Internal Revenue Code to allow an individual taxpayer a tax credit for up to $500 of qualified college preparation expenses. An individual may use the credit for up to three years for qualified college preparation expenses that include:
What it does: CRS summary · Introduced in House · Jun 3, 2016
College Preparation Tax Credit Act of 2016
This bill amends the Internal Revenue Code to allow an individual taxpayer a tax credit for up to $500 of qualified college preparation expenses. An individual may use the credit for up to three years for qualified college preparation expenses that include:
- the fees required for taking any Advanced Placement or International Baccalaureate exam, the SAT, the ACT, or any SAT subject test;
- expenses related to preparation for the exams;
- fees and expenses related to applications for admission to pursue a postsecondary course of study at an institution of higher education; and
- similar expenses and fees prescribed by the Internal Revenue Service in regulations.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: College Preparation Tax Credit Act of 2016
Latest action (Jun 3, 2016): Referred to the House Committee on Ways and Means.
Policy area: Taxation · Origin: House · Introduced: Jun 3, 2016
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.