U.S. Congress - H.R.1407 Higher Education Affordability and Equity Act of 2007
H.R.1407 - Higher Education Affordability and Equity Act of 2007
To amend the Internal Revenue Code of 1986 to expand incentives for education. view all titles (2)
All Bill Titles
- Short: Higher Education Affordability and Equity Act of 2007 as introduced.
- Official: To amend the Internal Revenue Code of 1986 to expand incentives for education. as introduced.
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Official Summary
3/8/2007--Introduced.Higher Education Affordability and Equity Act of 2007 - Amends the Internal Revenue Code to: (1) repeal the dollar limitation on the tax deduction for interest on education loans and expand eligibility for such deduction by revising the modified adjusted gross income pOfficial Summary
3/8/2007--Introduced.Higher Education Affordability and Equity Act of 2007 - Amends the Internal Revenue Code to:
(1) repeal the dollar limitation on the tax deduction for interest on education loans and expand eligibility for such deduction by revising the modified adjusted gross income phaseout for such deduction;
(2) make the tax deduction for qualified tuition and related expenses permanent;
(3) increase from $2,000 to $5,000 the maximum allowable contribution to a Coverdell savings account;
(4) exclude from gross income amounts received for qualified higher education expenses (e.g., books, supplies, room, board, and special needs services); and
(5) allow certain additional expenses (e.g., fees, books, supplies, and equipment) for purposes of the Hope Scholarship Tax Credit and provide that such tax credit shall not be reduced by Federal Pell Grants and Supplemental Educational Opportunity (SEOG) Grants.
Repeals the sunset provisions of the Economic Growth and Tax Relief Reconciliation Act of 2001 (EGTRRA) applicable to title IV, subtitles A, B, and D (Affordable Education Provisions) of such Act.
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Recent Blog Coverage
H.R.1407: Veterans' Compensation Cost-of-Living ... - OpenCongress
Article source: http://govnewstweets.com/2011/05/h-r-1407-veterans-compensation-cost-of-living-adjustment-act-of-2011/ Feed: gov news tweets See More Articles like this Gov Watch. Facebook Twitter Email ... -. Source: admin ... •Cost Estimate for H.R. 14
H.R.1407: Medicare Part D Home and Community ... - OpenCongress
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HR 1407 Enrolled
Congratulating Mesquite ISD faculty member Judy Heaps for receiving a Texas Exes Award for Outstanding Teachers.
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