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Titles (2)

Short Titles

Short Titles - Senate

Short Titles as Introduced

American Opportunity Tax Credit Permanence and Consolidation Act of 2015

Official Titles

Official Titles - Senate

Official Titles as Introduced

A bill to amend the Internal Revenue Code of 1986 to extend and modify the American Opportunity Tax Credit, and for other purposes.


Actions Overview (1)

Date Actions Overview
03/10/2015Introduced in Senate

All Actions (1)

Date All Actions
03/10/2015Read twice and referred to the Committee on Finance.
Action By: Senate

Cosponsors (11)


Committees (1)

Committees, subcommittees and links to reports associated with this bill are listed here, as well as the nature and date of committee activity and Congressional report number.

Committee / Subcommittee Date Activity Reports
Senate Finance03/10/2015 Referred to

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Subjects (7)


Latest Summary (1)

There is one summary for S.699. View summaries

Shown Here:
Introduced in Senate (03/10/2015)

American Opportunity Tax Credit Permanence and Consolidation Act of 2015

Amends the Internal Revenue Code to replace the Hope Scholarship and Lifetime Learning tax credits with a new American Opportunity Tax Credit that: (1) allows an income tax credit of up to $3,000 of the qualified tuition and related expenses of a student who is carrying at least one half of a normal course load, (2) increases the income threshold for reductions in the credit amount based upon modified adjusted gross income, (3) imposes a lifetime dollar limitation on such credit of $15,000 for all taxable years, and (4) makes a portion of the credit refundable. Allows an exclusion from gross income of any amount received as a Federal Pell Grant.