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S 699 114th Congress Senate

American Opportunity Tax Credit Permanence and Consolidation Act of 2015

Official title: A bill to amend the Internal Revenue Code of 1986 to extend and modify the American Opportunity Tax Credit, and for other purposes.

Introduced: March 10, 2015 Introduced by: Schumer, Charles E. Democratic · New York See on congress.gov
Taxation Computers and information technologyEducational technology and distance educationHigher educationIncome tax credits
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Income tax exclusionStudent aid and college costs
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This bill died when the 114th Congress ended
It never became law before the 114th Congress (2015–2016) adjourned, and bills don't carry over to the next Congress. It would have to be reintroduced. You can still save it for reference, but it won't receive updates.
 Everywhere this bill has been 2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Mar 10, 2015
Read twice and referred to the Committee on Finance.
Mar 10, 2015
Introduced in Senate
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 Latest action March 10, 2015

Read twice and referred to the Committee on Finance.

 Plain-English summary Congressional Research Service

American Opportunity Tax Credit Permanence and Consolidation Act of 2015

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) imposes a lifetime dollar limitation on such credit of $15,000 for all taxable years, and (4) makes a portion of the credit refundable. Allows an exclusion from gross income of any amount received as a Federal Pell Grant.

 Related & companion bills 2
  • HR 1260 Related bill American Opportunity Tax Credit Act of 2015
  • HR 5383 Related bill Middle Class College Tuition Tax Credit Expansion Act of 2016
 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 1
 Cosponsors 5
All 5 Democratic 5
D
Durbin, Richard J.
Illinois · Mar 10, 2015
 D
Murray, Patty
Washington · Mar 10, 2015
 D
Shaheen, Jeanne
New Hampshire · Mar 10, 2015
 D
Whitehouse, Sheldon
Rhode Island · Mar 10, 2015
 D
Wyden, Ron
Oregon · Mar 10, 2015
Cite this page click to expand
APA
U.S. Congress. (2026). S. 699: American Opportunity Tax Credit Permanence and Consolidation Act of 2015. 114th Congress. Open America. https://openamerica.io/bill/114-S-699/
MLA
"S. 699: American Opportunity Tax Credit Permanence and Consolidation Act of 2015." 114th Congress, 2026, Open America, https://openamerica.io/bill/114-S-699/.
Bluebook (legal)
S. 699, 114th Cong. (2026), https://openamerica.io/bill/114-S-699/.
Markdown link
[S. 699: American Opportunity Tax Credit Permanence and Consolidation Act of 2015](https://openamerica.io/bill/114-S-699/)
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