H.R.956 - Education Improvement Tax Cut Act

To amend the Internal Revenue Code of 1986 to allow a credit against income tax for amounts contributed to charitable organizations which provide elementary or secondary school scholarships and for contributions of, and for, instructional materials and materials for extracurricular activities. view all titles (2)

All Bill Titles

  • Official: To amend the Internal Revenue Code of 1986 to allow a credit against income tax for amounts contributed to charitable organizations which provide elementary or secondary school scholarships and for contributions of, and for, instructional materials and materials for extracurricular activities. as introduced.
  • Short: Education Improvement Tax Cut Act as introduced.

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Introduced
 
House
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Senate
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President
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03/08/11
 
 
 
 
 
 
 

Official Summary

Education Improvement Tax Cut Act - Amends the Internal Revenue Code to allow: (1) a tax credit up to $5,000 per year (adjusted annually for inflation after 2011) for contributions to a school tuition organization which distributes at least 90 percent of its annual gross income for elementa

Official Summary

Education Improvement Tax Cut Act - Amends the Internal Revenue Code to allow:
(1) a tax credit up to $5,000 per year (adjusted annually for inflation after 2011) for contributions to a school tuition organization which distributes at least 90 percent of its annual gross income for elementary and secondary school scholarships, and
(2) a tax credit up to $5,000 per year (adjusted annually for inflation after 2011) for contributions to a school materials organization which distributes at least 90 percent of its annual gross income to elementary and secondary schools for materials and equipment for instruction and for extracurricular activities.

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