S. 699 · 114th Congress
American Opportunity Tax Credit Permanence and Consolidation Act of 2015
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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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SchumerSponsor11 cosponsors · 11 D
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Brown
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Cardin
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Durbin
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Menendez
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Murray
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Reid
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Stabenow
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Shaheen
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Wyden
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Whitehouse
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Casey10 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
American Opportunity Tax Credit Permanence and Consolidation Act of 2015
What it does: CRS summary · Introduced in Senate · Mar 10, 2015
American Opportunity Tax Credit Permanence and Consolidation Act of 2015
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 income tax credit of up to $3,000 of 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) imposes a lifetime dollar limitation on such credit of $15,000 for all taxable years, and (4) makes a portion of the credit refundable. Allows an exclusion from gross income of any amount received as a Federal Pell Grant.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: American Opportunity Tax Credit Permanence and Consolidation Act of 2015
Latest action (Mar 10, 2015): Read twice and referred to the Committee on Finance.
Policy area: Taxation · Origin: Senate · Introduced: Mar 10, 2015
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.