H.R.386 - CLASS Act of 2009111th Congress (2009-2010)
|Sponsor:||Rep. Doggett, Lloyd [D-TX-25] (Introduced 01/09/2009)|
|Committees:||House - Ways and Means|
|Latest Action:||01/15/2009 Sponsor introductory remarks on measure. (CR H370) (All Actions)|
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Summary: H.R.386 — 111th Congress (2009-2010)All Bill Information (Except Text)
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.