3.0.0 3267 2022-02-03T05:53:53Z 2022-02-03T05:53:53Z Senate S S 2012-06-06 112 ssfi00 Finance Committee Senate Standing Referred to 2012-06-06T21:58:26Z 112 6522 HR 2012-09-21 Referred to the House Committee on Ways and Means. Related bill CRS 2012-06-06 ssfi00 Finance Committee Senate Read twice and referred to the Committee on Finance. IntroReferral 2012-06-06 Introduced in Senate IntroReferral 10000 9 Library of Congress S000148 Sen. Schumer, Charles E. [D-NY] Charles Schumer D NY E. N K000148 Sen. Kerry, John F. [D-MA] JOHN KERRY D MA FORBES 2012-06-06 True M000639 Sen. Menendez, Robert [D-NJ] Robert Menendez D NJ 2012-06-06 True S000770 Sen. Stabenow, Debbie [D-MI] Debbie Stabenow D MI 2012-07-10 False Taxation Higher education Income tax credits Income tax exclusion Student aid and college costs Taxation

00 2012-06-06 Introduced in Senate 2012-07-10T14:54:45Z American Opportunity Tax Credit Permanence and Consolidation Act of 2012 - Amends the Internal Revenue Code to replace the Hope Scholarship and Lifetime Learning tax credits with a new American Opportunity Tax Credit that: (1) allows an income tax credit of up to $3,000 of the qualified tuition and related expenses of a student who is carrying at least one half of a normal course load, (2) increases the income threshold for reductions in the credit amount based upon modified adjusted gross income, (3) allows a lifetime dollar limitation on such credit of $15,000 for all taxable years, and (4) makes 40% of the credit refundable. Allows an exclusion from gross income of any amount received as a Federal Pell Grant.

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Short Titles as Introduced Display Title Official Title as Introduced Introduced in Senate 2012-06-06T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-112s3267is/xml/BILLS-112s3267is.xml 2012-06-06 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.