H.R. 1058

Hope Plus Scholarship Act of 2007

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I

110th CONGRESS

1st Session

H. R. 1058

IN THE HOUSE OF REPRESENTATIVES

February 14, 2007

Mr. Paul (for himself and Mr. McCotter) 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 the Hope Scholarship Credit to be used for elementary and secondary expenses.

1.

Short title

This Act may be cited as the Hope Plus Scholarship Act of 2007.

2.

Hope Scholarship Credit available for elementary and secondary educational expenses

(a)

In general

Subsection (f) of section 25A of the Internal Revenue Code of 1986 is amended by adding at the end the following new paragraph:

(3)

Special rule for Hope Scholarship Credit

In the case of the Hope Scholarship Credit, the term qualified tuition and related expenses shall include qualified elementary and secondary education expenses (as defined in section 530(b)(4)); except that—

(A)

such term shall include a contribution or gift to the school (other than the home school) at which dependents of the taxpayer are attending, and

(B)

the term school shall include a home school.

.

(b)

Effective date

The amendment made by this section shall apply to taxable years beginning after December 31, 2006.