3.0.0 2411 2023-01-11T16:03:25Z 2023-01-11T16:03:25Z House H HR 2007-05-21 110 hswm00 Ways and Means Committee House Standing Referred to 2007-05-21T14:33:50Z 2007-05-21 Referred to the House Committee on Ways and Means. IntroReferral H11100 2 House floor actions hswm00 Ways and Means Committee 2007-05-21 Introduced in House IntroReferral Intro-H 9 Library of Congress 2007-05-21 Introduced in House IntroReferral 1000 9 Library of Congress L000480 Rep. Lowey, Nita M. [D-NY-18] NITA LOWEY D NY M. 18 N H001042 Rep. Hirono, Mazie K. [D-HI-2] Mazie Hirono D HI K. 2 2007-07-27 False H001039 Rep. Hall, John J. [D-NY-19] John Hall D NY J. 19 2007-09-04 False Taxation College costs Economics and Public Finance Education Federal aid to education Higher education Income tax Scholarships Student loan funds Tax deductions Tax refunds Tuition tax credits Taxation

00 2007-05-21 Introduced in House 2007-06-12T20:06:55Z Deductibility and Incentives to Promote Learning Opportunities and Maximize Assistance (DIPLOMA) Act of 2007- Amends the Internal Revenue Code to: (1) allow an unlimited tax deduction for qualified tuition and related expenses for taxpayers whose adjusted gross incomes do not exceed $80,000 ($160,000 for joint returns); (2) extend such deduction through 2010; (3) allow a tax deduction for principal amounts paid on education loans for the first 60 months of such loans; (4) replace the Hope Scholarship tax credit with an earned tuition tax credit for the first $1,500 of qualified tuition and related expenses (50% of expenses over $1,500 up to $4,000) for four years of postsecondary education; and (5) make the tax credit for earned tuition and lifetime learning expenses refundable.

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Display Title Official Title as Introduced Introduced in House IH Short Titles as Introduced Introduced in House 2007-05-21T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-110hr2411ih/xml/BILLS-110hr2411ih.xml 2007-05-21 Referred to the House Committee on Ways and Means. text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. Congressional Research Service, Library of Congress This file contains bill summaries and statuses for federal legislation. A bill summary describes the most significant provisions of a piece of legislation and details the effects the legislative text may have on current law and federal programs. Bill summaries are authored by the Congressional Research Service (CRS) of the Library of Congress. As stated in Public Law 91-510 (2 USC 166 (d)(6)), one of the duties of CRS is "to prepare summaries and digests of bills and resolutions of a public general nature introduced in the Senate or House of Representatives". For more information, refer to the User Guide that accompanies this file.