H.R. 2287

Teacher Tax Credit Act of 2007

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Contents

I

110th CONGRESS

1st Session

H. R. 2287

IN THE HOUSE OF REPRESENTATIVES

May 10, 2007

Mrs. Wilson of New Mexico (for herself, Mr. Davis of Alabama, Mr. Marshall, Mr. Price of North Carolina, Mrs. Capito, Mr. Kuhl of New York, Ms. Norton, Ms. Jackson-Lee of Texas, Mr. Cleaver, Mr. Buchanan, Mr. Moore of Kansas, Mr. Miller of Florida, Mr. Regula, and Mr. Young of Alaska) 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 provide a tax credit for teachers and principals who work in certain low income schools.

1.

Short title

This Act may be cited as the Teacher Tax Credit Act of 2007.

2.

Credit for educators in certain elementary or secondary schools

(a)

In general

Subpart A of part IV of subchapter A of chapter 1 of the Internal Revenue Code of 1986 (relating to nonrefundable personal credits) is amended by inserting after section 25D the following new section:

25E.

Educators in certain elementary and secondary schools

(a)

Allowance of credit

In the case of an eligible educator, there shall be allowed as a credit against the tax imposed by this chapter for a taxable year an amount equal to $2,000.

(b)

Definitions

For purposes of this section—

(1)

Eligible educator

The term eligible educator means, with respect to any taxable year, an individual who is a teacher, instructor, counselor, principal, or aide in any of grades kindergarten through 12 in an eligible elementary or secondary school for at least 900 hours during a school year.

(2)

Eligible elementary or secondary school

The term eligible elementary or secondary school means any school that is eligible for schoolwide assistance under section 1114(a)(1) of title I of the Elementary and Secondary Education Act of 1965.

.

(b)

Clerical amendment

The table of sections for subpart A of part IV of subchapter A of chapter 1 of such Code is amended by inserting after the item relating to section 25D the following new item:

Sec. 25E. Educators in certain elementary and secondary schools..

(c)

Effective date

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