H.R.4844 - A bill to amend the Internal Revenue Code of 1954 to allow individuals an income tax credit for certain expenses of elementary or secondary education.94th Congress (1975-1976)
|Sponsor:||Rep. Coughlin, Lawrence [R-PA-13] (Introduced 03/13/1975)|
|Committees:||House - Ways and Means|
|Latest Action:||03/13/1975 Referred to House Committee on Ways and Means. (All Actions)|
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Summary: H.R.4844 — 94th Congress (1975-1976)All Bill Information (Except Text)
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.