H.R. 4078 – Reading Mode

110th CONGRESS

1st Session

H. R. 4078

IN THE HOUSE OF REPRESENTATIVES

November 5, 2007

Mr. Paul 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 elementary and secondary school teachers a credit against income tax for professional development and training expenses.

Short title

This Act may be cited as the Education Professional Development Tax Credit Act of 2007.

Credit for professional development and training expenses of elementary and secondary school teachers

(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.

Professional development and training expenses of elementary and secondary school teachers

(a)

Allowance of credit

In the case of an eligible individual, there shall be allowed as a credit against the tax imposed by this section an amount equal to the professional development and training expenses paid or incurred by the taxpayer during the taxable year.

(b)

Eligible individual

For purposes of this section—

(1)

In general

The term eligible individual means any individual who—

(A)

is a teacher in an elementary or secondary school, and

(B)

is employed on a full-time basis for an academic year ending during the taxable year.

(2)

Excluded individuals

Such term does not include an individual who is employed, on a full-time basis for such academic year, as other staff (as defined in section 9101(29) of the Elementary and Secondary Education Act of 1965 (20 U.S.C. 7801(29))).

(c)

Professional development and training expenses

For purposes of this section, the term professional development and training expenses means expenses which would (but for subsection (e)) be allowed as a deduction under section 212 by reason of being a teacher at an elementary or secondary school, including expenses for any course in any subject in which the eligible individual is certified to teach or becomes certified to teach within 1 year after completing the course.

(d)

Elementary or secondary school

For purposes of this section, the term elementary or secondary school means any organization described in section 170(b)(1)(A)(ii) which provides education solely at or below the 12th grade.

(e)

Denial of double benefit

No deduction shall be allowed for any amount for which credit is allowed under this section.

(b)

Clerical amendment

The table of sections for such subpart IV is amended by inserting after the item relating to section 25D the following new item:

Sec. 25E. Professional development and training expenses of elementary and secondary school teachers..

(c)

Effective date

The amendments made by this section shall apply to taxable years beginning after the date of the enactment of this Act.