There is one summary for this bill. Bill summaries are authored by CRS.

Shown Here:
Introduced in House (03/13/1975)

Revises the Internal Revenue Code to allow as a credit against the income tax the expenses of elementary or secondary education paid by an individual during the taxable year to any private nonprofit elementary or secondary school for a dependent.

Limits such credit to the lesser of 100 percent of the expenses or $300. Reduces such credit by an amount equal to 1 percent of the amount by which the adjusted gross income of the taxpayer exceeds $22,500.