Summary: H.R.823 — 115th Congress (2017-2018)All Information (Except Text)

There is one summary for H.R.823. Bill summaries are authored by CRS.

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Introduced in House (02/02/2017)

Expand American Educational Opportunity Act of 2017

This bill amends the Internal Revenue Code to replace the Hope Scholarship and Lifetime Learning tax credits with a modified American Opportunity Tax Credit that: (1) allows an income tax credit of up to $2,500 of the qualified tuition and related expenses of a student who is carrying at least one half of a normal course load, (2) allows a lifetime dollar limitation for the credit of $15,000 for all taxable years, and (3) increases the refundable portion of the credit to a maximum of $1,500. The bill allows an exclusion from gross income of any amount received as a Federal Pell Grant.