HR 4323
104th Congress
House
Taxation
College costs
Cost of living adjustments
Economics and Public Finance
Education
Educational finance
Educational policy
Excise tax
Families
Finance and Financial Sector
Grandparents
Higher education
Income
Income tax
Indexing (Economic policy)
Interest
Labor and Employment
Law
Savings accounts
Student loan funds
Family Affordable College Tuition Act of 1996
Introduced: September 28, 1996
Introduced by:
Schumer, Charles E.
Democratic
· New York
See on congress.gov
Everywhere this bill has been
2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Sep 28, 1996
Referred to the House Committee on Ways and Means.
Sep 28, 1996
Introduced in House
Plain-English summary
Family Affordable College Tuition Act of 1996 - Amends the Internal Revenue Code to provide an income-adjusted deduction for qualified higher education expenses and qualified higher education loan interest paid during the tax year.
Provides an income-adjusted deduction of up to $4000 for payments made to a qualified (higher) education savings plan during the tax year. Excludes plan distributions used to pay qualified education costs from gross income and dependent support determinations.
What's happening now
Referred to the House Committee on Ways and Means.
Committees of jurisdiction
1