3.0.0 1399 2023-01-11T16:47:41Z 2023-01-11T16:47:41Z Senate S S 2007-05-15 110 ssfi00 Finance Committee Senate Standing Referred to 2007-05-15T19:41:30Z A bill to establish an establish an Early Federal Pell Grant Commitment Demonstration Program. 110 1467 S 2007-05-23 Read twice and referred to the Committee on Health, Education, Labor, and Pensions. (text of measure as introduced: CR S6558-6559) Related bill CRS 2007-05-15 ssfi00 Finance Committee Senate Read twice and referred to the Committee on Finance. IntroReferral 2007-05-15 Sponsor introductory remarks on measure. (CR S6138-6139) IntroReferral B00100 9 Library of Congress 2007-05-15 Introduced in Senate IntroReferral 10000 9 Library of Congress B000444 Sen. Biden, Joseph R., Jr. [D-DE] JOSEPH BIDEN D DE ROBINETTE N Education Agriculture and Food College costs Cost effectiveness Cost of living adjustments Crime and Law Enforcement Drug abuse Drug traffic Economics and Public Finance Education of the disadvantaged Education savings accounts Educational accountability Educational statistics Elementary and secondary education Federal aid to education Government Operations and Politics Government publicity Governmental investigations Graduate education Higher education Income tax Indexing (Economic policy) Scholarships School districts School lunch program Secondary education Social Welfare Student aid Student records Tax deductions Tax refunds Taxation Tuition tax credits Education 00 2007-05-15 Introduced in Senate 2009-05-26T13:59:53Z College Affordability and Creating Chances for Educational Success for Students Act of 2007 - College ACCESS Tax Credit Act - Amends the Internal Revenue Code to replace the Hope Scholarship Credit and the tuition and related expenses deduction with a refundable College Affordability and Creating Chances for Educational Success for Students (ACCESS) tax credit.

Sets the maximum yearly credit at $3,000 and the maximum lifetime credit for undergraduate and graduate education at $12,000 and $6,000, respectively. Requires annual inflation adjustments to such amounts.

Amends the Higher Education Act of 1965 to authorize an Early Federal Pell Grant Demonstration Program.

Directs the Secretary of Education to award grants to four states to cover administrative expenses incurred in the program. Limits a state to a cohort of up to 10,000 of its eighth grade students who are eligible for a free or reduced price meal under the Richard B. Russell National School Lunch Act or the Child Nutrition Act of 1966. Provides for a cohort for each of the academic years 2007-2008 and 2008-2009. Declares that each student who participates in the demonstration project receives a commitment to receive a Pell Grant during their first year of undergraduate study at an institution of higher education, subject to a specified condition.

Requires state grantees to choose local educational agencies to participate in the program from among those serving students at least half of whom are eligible for free or reduced price meals.

Calculates participating students' Pell Grants by deeming them to have no expected family contribution.

Directs the Secretary to arrange for an independent evaluation of the demonstration program's effectiveness in providing needy students with access to, and an incentive to pursue, higher education.

Requires state grantees annually to provide program participants with information concerning college costs, Pell Grants, state college savings programs, and other state and federal aid programs.

Increases the maximum Pell Grant amount from $5,100 for academic year 2007-2008 by specified levels up to $6,300 for academic year 2011-2012.

]]> College Affordability and Creating Chances for Educational Success for Students Act of 2007 Display Title College Affordability and Creating Chances for Educational Success for Students Act of 2007 Official Title as Introduced A bill to amend the Internal Revenue Code of 1986 to combine the Hope Scholarship Credit and the deduction for qualified tuition and related expenses into a refundable college affordability and creating chances for educational success for students (ACCESS) credit, to establish an Early Federal Pell Grant Commitment Demonstration Program, and to increase the maximum Federal Pell Grant Award. Introduced in Senate IS Short Titles as Introduced College Affordability and Creating Chances for Educational Success for Students Act of 2007 Short Titles as Introduced for portions of this bill College ACCESS Tax Credit Act Introduced in Senate 2007-05-15T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-110s1399is/xml/BILLS-110s1399is.xml 2007-05-15 Read twice and referred to the Committee on Finance. 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.