S.1230 - College Saver's Credit Act of 2007

A bill to amend the Internal Revenue Code of 1986 to provide a refundable credit for contributions to qualified tuition programs. view all titles (2)

All Bill Titles

  • Short: College Saver's Credit Act of 2007 as introduced.
  • Official: A bill to amend the Internal Revenue Code of 1986 to provide a refundable credit for contributions to qualified tuition programs. as introduced.

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Introduced
 
Senate
Passes
 
House
Passes
 
President
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04/26/07
 
 
 
 
 
 
 

Official Summary

College Saver's Credit Act of 2007 - Amends the Internal Revenue Code to: (1) allow certain middle-income individual taxpayers age 18 or older a refundable tax credit for 50% of their contributions to a qualified tuition program (tax-exempt college savings plan), up to an annual limit

Official Summary

College Saver's Credit Act of 2007 - Amends the Internal Revenue Code to:
(1) allow certain middle-income individual taxpayers age 18 or older a refundable tax credit for 50% of their contributions to a qualified tuition program (tax-exempt college savings plan), up to an annual limit of $2,000; and
(2) require the distribution of financial education materials to participants in a qualified tuition program.Requires the Secretary of the Treasury to study and report to Congress on the participation of individuals in qualified tuition programs.

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