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- S.1501
S.1501: Universal Higher Education and Lifetime Learning Act of 2007
About This Bill
- This bill was introduced in the 110th Congress
- This bill is primarily about taxation
- Introduced May 24, 2007
- Latest Major Action May 24, 2007
- See the one similar bills introduced in other congresses.
Bill Sponsor
Bill Summary
Universal Higher Education and Lifetime Learning Act of 2007 - Amends the Internal Revenue Code of 1986 to replace the Hope Scholarship and Lifetime Learning Tax Credits with a partially refundable Higher Education Tax Credit covering: (1) up to 50% of a taxpayer's higher education expenses for a taxable year that do not exceed $3,000; and (2) up to 30% of such expenses between $3,000 and $8,000. Sets a lifetime credit limitation of $12,000...
(Source: Library of Congress)
Bill Actions
| Date | Description |
|---|---|
|
Read twice and referred to the Committee on Finance.
|
|
| May 24, 2007 |
Introduced in the Senate by Evan Bayh (D-Ind.) |