Summary: H.R.386 — 111th Congress (2009-2010)All Information (Except Text)

There is one summary for H.R.386. Bill summaries are authored by CRS.

Shown Here:
Introduced in House (01/09/2009)

College Learning Access Simplicity and Savings Act of 2009 or the CLASS Act of 2009 - Amends the Internal Revenue Code to replace the Hope Scholarship tax credit with the College Affordability Credit, which shall allow: (1) a partially refundable tax credit of up to $1,200 for qualified tuition and related expenses (including required course materials) at an institution of higher education; and (2) an additional 50% tax credit for such expenses exceeding $1,200 but not exceeding $4,800.

Repeals the tax deduction for qualified tuition and related expenses.