H.R. 823 · 115th Congress
Expand American Educational Opportunity Act of 2017
- Stage
- In committee
- Sponsor
- Lloyd Doggett
- Introduced
- 2017-02-02
- Latest action
- 2017-02-02 · Introduced in House
Summary
Expand American Educational Opportunity Act of 2017
This bill amends the Internal Revenue Code to replace the Hope Scholarship and Lifetime Learning tax credits with a modified American Opportunity Tax Credit that: (1) allows an income tax credit of up to $2,500 of the qualified tuition and related expenses of a student who is carrying at least one half of a normal course load, (2) allows a lifetime dollar limitation for the credit of $15,000 for all taxable years, and (3) increases the refundable portion of the credit to a maximum of $1,500. The bill allows an exclusion from gross income of any amount received as a Federal Pell Grant.