H.R.441 - Education, Achievement, and Opportunity Act109th Congress (2005-2006)
|Sponsor:||Rep. Smith, Christopher H. [R-NJ-4] (Introduced 02/01/2005)|
|Committees:||House - Ways and Means|
|Latest Action:||02/02/2005 Sponsor introductory remarks on measure. (All Actions)|
This bill has the status Introduced
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Summary: H.R.441 — 109th Congress (2005-2006)All Information (Except Text)
Introduced in House (02/01/2005)
Education, Achievement, and Opportunity Act - Amends the Internal Revenue Code to allow an annual refundable tax credit for certain expenses incurred for children enrolled in elementary or secondary public and private schools. Includes as eligible expenses: tuition and fees, computers and educational software, academic tutoring, special needs services for children with disabilities, transportation fees, and academic testing services. Excludes expenses for nonacademic purposes, including fees for student activities, athletics, insurance, school uniforms, and nonacademic after-school activities.
Limits the amount of such credit to $2,500 for a child enrolled in an elementary school and $3,500 for a child in secondary school. Reduces such credit amounts for taxpayers earning over $75,000 ($150,000 for married taxpayers filing a joint return).