[Congressional Bills 110th Congress]
[From the U.S. Government Publishing Office]
[H.R. 5269 Introduced in House (IH)]







110th CONGRESS
  2d Session
                                H. R. 5269

To amend the Internal Revenue Code of 1986 to allow additional expenses 
for purposes of determining the Hope Scholarship Credit, and for other 
                               purposes.


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                    IN THE HOUSE OF REPRESENTATIVES

                            February 7, 2008

   Mr. Brady of Texas (for himself and Mr. Hinojosa) 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 allow additional expenses 
for purposes of determining the Hope Scholarship Credit, and for other 
                               purposes.

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

SECTION 1. MODIFICATION OF HOPE SCHOLARSHIP CREDIT.

    (a) Allowance of Additional Expenses.--Paragraph (1) of section 
25A(f) of the Internal Revenue Code of 1986 (defining qualified tuition 
and related expenses) 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, such term shall include--
                            ``(i) costs incurred for room and board 
                        that are not in excess of the limitation 
                        imposed under section 529(e)(3)(B)(ii),
                            ``(ii) at the election of the taxpayer, 
                        expenses which would be employment-related 
                        expenses (as defined in section 21(b)) if 
                        attendance at an eligible educational 
                        institution were treated as employment, and
                            ``(iii) books, supplies, and equipment 
                        required for courses of instruction at the 
                        eligible educational institution.
                No credit shall be allowed to the taxpayer under 
                section 21 for the taxable year if the taxpayer elects 
                the application of clause (ii) for such taxable 
                year.''.
    (b) Effective Date.--The amendment made by this section shall apply 
to expenses paid after December 31, 2007 (in taxable years ending after 
such date), for education furnished in academic periods beginning after 
such date.
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