US Congress Senate Bill 250 (Prior Session Legislation)

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Sponsorship: Strong Partisan Bill (Democrat 14-1)
Status: Introduced on January 14 2009 - 25% progression, died in chamber
Action: 2009-01-14 - Read twice and referred to the Committee on Finance.
Text: Latest bill text (Introduced) [PDF]

Higher Education Opportunity Act of 2009 - Amends the Internal Revenue Code to replace the hope scholarship and lifetime learning tax credits with a higher education opportunity tax credit.Allows a higher education opportunity tax credit for the lesser of: (1) the sum of 100% of qualified tuition and related expenses (including a certain allowance for books) up to $2,000, 50% for such expenses between $2,000 and $4,000, and 25% of such expenses between $4,000 and $8,000; or (2) the excess (if any) of $16,000 over aggregate credits from prior taxable years. Reduces credit amounts for taxpayers with modified adjusted gross incomes over $70,000 ($140,000 in the case of a joint return). Limits such credit to three eligible students per taxpayer in any taxable year. Denies such tax credit to certain part time students and students convicted of a felony drug offense.Repeals the tax deduction for qualified tuition and related expenses.

Higher Education Opportunity Act of 2009

Sen. Evan Bayh [D-IN]	Sen. Barbara Boxer [D-CA]	Sen. Sherrod Brown [D-OH]	Sen. Maria Cantwell [D-WA]
Sen. Benjamin Cardin [D-MD]	Sen. Robert Casey [D-PA]	Sen. Al Franken [D-MN]	Sen. Tim Johnson [D-SD]
Sen. Herb Kohl [D-WI]	Sen. Joseph Lieberman [I-CT]	Sen. Claire McCaskill [D-MO]	Sen. Robert Menendez [D-NJ]
Sen. Jeff Merkley [D-OR]	Sen. Patty Murray [D-WA]	Sen. Charles Schumer [D-NY]

Date	Chamber	Action
2009-01-14		Read twice and referred to the Committee on Finance.

HB518 (Related) 2009-01-14 - Referred to the House Committee on Ways and Means.
HB1957 (Related) 2009-04-02 - Referred to the House Committee on Ways and Means.
HB6033 (Related) 2010-07-30 - Referred to the House Committee on Ways and Means.

Type	Source
Summary	https://www.congress.gov/bill/111th-congress/senate-bill/250/all-info
Text	https://www.congress.gov/111/bills/s250/BILLS-111s250is.pdf