[Congressional Bills 110th Congress]
[From the U.S. Government Publishing Office]
[H.R. 3607 Introduced in House (IH)]







110th CONGRESS
  1st Session
                                H. R. 3607

     To amend the Internal Revenue Code of 1986 to expand the Hope 
 Scholarship Credit by increasing the maximum credit, by allowing the 
  credit for 4 years of postsecondary education, and by allowing the 
          credit for room, board, and certain other expenses.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                           September 20, 2007

  Mr. Barrow introduced the following bill; which was referred to the 
                      Committee on Ways and Means

_______________________________________________________________________

                                 A BILL


 
     To amend the Internal Revenue Code of 1986 to expand the Hope 
 Scholarship Credit by increasing the maximum credit, by allowing the 
  credit for 4 years of postsecondary education, and by allowing the 
          credit for room, board, and certain other expenses.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. EXPANSION OF HOPE SCHOLARSHIP CREDIT.

    (a) Increase in Maximum Per Student Credit.--
            (1) In general.--Paragraph (1) of section 25A(b) of the 
        Internal Revenue Code of 1986 (relating to Hope Scholarship 
        Credit) is amended by striking ``$1,000'' each place it appears 
        and inserting ``$2,000''.
            (2) Conforming amendments.--Section 25A(h)(1)(A) of such 
        Code (relating to inflation adjustments) is amended--
                    (A) by striking ``2001'' and inserting ``2008'',
                    (B) by striking ``$1,000'' and inserting 
                ``$2,000'', and
                    (C) by striking ``2000'' and inserting ``2007''.
    (b) Credit for 4 Years of Postsecondary Education.--
            (1) Subparagraph (A) of section 25A(b)(2) of such Code is 
        amended--
                    (A) by striking ``2 taxable years'' in the heading 
                and inserting ``4 taxable years'', and
                    (B) by striking ``2 prior taxable years'' and 
                inserting ``4 prior taxable years''.
            (2) Subparagraph (C) of section 25A(b)(2) of such Code is 
        amended--
                    (A) by striking ``2 years'' in the heading and 
                inserting ``4 years'', and
                    (B) by striking ``2 years'' in the text and 
                inserting ``4 years''.
    (c) Creditable Expenses Include Expenses for Room, Board, and 
Certain Other Items.--Paragraph (1) of section 25A(f) of such Code is 
amended by adding at the end the following new subparagraph:
                    ``(D) Additional expenses allowed for hope 
                scholarship credit.--For purposes of the Hope 
                Scholarship Credit--
                            ``(i) In general.--Such term shall 
                        include--
                                    ``(I) except as provided in 
                                subparagraph (B), books, supplies, and 
                                equipment required for courses of 
                                instruction at the eligible educational 
                                institution, and
                                    ``(II) the reasonable cost for room 
                                and board while attending such 
                                institution.
                            ``(ii) Limitation on room and board.--The 
                        amount treated under clause (i) as qualified 
                        tuition and related expenses with respect to 
                        room and board shall not exceed the limitation 
                        under section 529(e)(3)(B)(ii).''.
    (d) Effective Date.--The amendments made by this section shall 
apply to taxable years beginning after December 31, 2007.
                                 <all>