H.R.4323 - Family Affordable College Tuition Act of 1996104th Congress (1995-1996)
|Sponsor:||Rep. Schumer, Charles E. [D-NY-9] (Introduced 09/28/1996)|
|Committees:||House - Ways and Means|
|Latest Action:||House - 09/28/1996 Referred to the House Committee on Ways and Means. (All Actions)|
This bill has the status Introduced
Here are the steps for Status of Legislation:
Summary: H.R.4323 — 104th Congress (1995-1996)All Information (Except Text)
Introduced in House (09/28/1996)
Family Affordable College Tuition Act of 1996 - Amends the Internal Revenue Code to provide an income-adjusted deduction for qualified higher education expenses and qualified higher education loan interest paid during the tax year.
Provides an income-adjusted deduction of up to $4000 for payments made to a qualified (higher) education savings plan during the tax year. Excludes plan distributions used to pay qualified education costs from gross income and dependent support determinations.