S.143 - College Opportunity Tax Credit Act of 2009

A bill to amend the Internal Revenue Code of 1986 to provide for a college opportunity tax credit. view all titles (2)

All Bill Titles

  • Official: A bill to amend the Internal Revenue Code of 1986 to provide for a college opportunity tax credit. as introduced.
  • Short: College Opportunity Tax Credit Act of 2009 as introduced.

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Introduced
 
Senate
Passes
 
House
Passes
 
President
Signs
 

 
01/06/09
 
 
 
 
 
 
 

Sponsor

Senator

John Kerry

D-MA

No Co-Sponsors

Official Summary

College Opportunity Tax Credit Act of 2009 - Amends the Internal Revenue Code to increase in 2009 and 2010: (1) the Hope Scholarship tax credit to allow a refundable credit for 100% of qualified tuition and related expenses up to $2,000 and for 50% of such expenses between $2,000 and $6,000

Official Summary

College Opportunity Tax Credit Act of 2009 - Amends the Internal Revenue Code to increase in 2009 and 2010:
(1) the Hope Scholarship tax credit to allow a refundable credit for 100% of qualified tuition and related expenses up to $2,000 and for 50% of such expenses between $2,000 and $6,000; and
(2) the lifetime learning tax credit to allow a nonrefundable tax credit for 40% of qualified tuition and related expenses up to $1,000 and for 20% of such expenses between $1,000 and $3,000. Allows the Hope Scholarship tax credit for four years of undergraduate coursework (currently, two years).

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