To amend the Internal Revenue Code of 1986 to allow a refundable credit against income tax for tuition expenses incurred for each qualifying child of the taxpayer in attending public or private elementary or secondary school.
Summary
What This Bill Does
The bill creates findings Congress finds the following: Private schools supplement the public school system and are a vital component of our Nation’s school network, requires credit for elementary and secondary education expenses Subpart C of part IV of subchapter A of chapter 1 of the Internal Revenue Code of 1986 (relating to refundable credits) is amended by inserting after, and requires elementary and secondary education expenses In the case of an individual, there shall be allowed as a credit against the tax imposed by this subtitle for the taxable year the amount of the qualified education. It relies on definition changes, tax rate changes, compliance mandates, and exemptions. The main policy areas are Education, Transportation, and Housing.
Who Benefits and How
Public beneficiaries or protected communities affected by the clause could face reduced risk, Homeowners, tenants, or housing market participants affected by the bill could face reduced risk, and Educational institutions and students affected by the bill could face reduced risk.
Who Bears the Burden and How
Federal, state, or local agencies responsible for implementing the clause would take on compliance duties, Transportation operators and users affected by the bill would take on compliance duties, and Educational institutions and students affected by the bill would take on compliance duties.
Key Provisions
- Creates findings Congress finds the following: Private schools supplement the public school system and are a vital component of our Nation’s school network.
- Requires credit for elementary and secondary education expenses Subpart C of part IV of subchapter A of chapter 1 of the Internal Revenue Code of 1986 (relating to refundable credits) is amended by inserting after...
- Requires elementary and secondary education expenses In the case of an individual, there shall be allowed as a credit against the tax imposed by this subtitle for the taxable year the amount of the qualified education...
Evidence Chain:
This summary is generated from the full bill text using AI analysis. Expand "Detailed Analysis" below for identified beneficiaries/burden bearers with clause-level evidence links.
At a Glance
What This Bill Does
The bill creates findings Congress finds the following: Private schools supplement the public school system and are a vital component of our Nation’s school network, requires credit for elementary and secondary education expenses Subpart C of part IV of subchapter A of chapter 1 of the Internal Revenue Code of 1986 (relating to refundable credits) is amended by inserting after, and requires elementary and secondary education expenses In the case of an individual, there shall be allowed as a credit against the tax imposed by this subtitle for the taxable year the amount of the qualified education.
Key Policy Areas
Education, Transportation, Housing
Primary Purpose
The bill creates findings Congress finds the following: Private schools supplement the public school system and are a vital component of our Nation’s school network, requires credit for elementary and secondary education expenses Subpart C of part IV of subchapter A of chapter 1 of the Internal Revenue Code of 1986 (relating to refundable credits) is amended by inserting after, and requires elementary and secondary education expenses In the case of an individual, there shall be allowed as a credit against the tax imposed by this subtitle for the taxable year the amount of the qualified education.
Policy Domains
Whole bill
Identified Gains
- Public beneficiaries or protected communities affected by the clause
- Homeowners, tenants, or housing market participants affected by the bill
- Educational institutions and students affected by the bill
Identified Costs
- Federal, state, or local agencies responsible for implementing the clause
- Transportation operators and users affected by the bill
- Educational institutions and students affected by the bill
Legislative Progress
IntroducedMr. Smith of New Jersey introduced the following bill; which …
Impact analysis is available but no clear stakeholder effects identified. View clause-level analysis →
Bill Structure & Actor Mappings
Who is "The Secretary" in each section?
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