,i  #aac? ,,congress  #b;d ,session  ,h4
 ,r4 #defc  ,,9 ,,! ,,h\se ,,(          
,,repres5tatives  ,may #b1 #bjad ,mr4   
,israel introduc$ ! foll[+ bill2 :i* 0  
ref]r$ to ! ,committee on ,ways & ,means
  ,a ,,bill  ,to am5d ! ,int]nal ,rev5ue
 ,code ( #aihf to provide a tax cr$it = 
c]ta9 exp5ses relat+ to apply+ to       
college4  #a4 ,%ort title ,?is ,act may 
be cit$ z ! ,college ,prep>ation ,tax   
,cr$it ,act ( #bjad4  #b4 ,tax cr$it =  
college prep>ation exp5ses  7a7 ,9 g5]al
 ,subp>t ,a ( "p ,,iv ( sub*apt] ,a (   
*apt] #a ( ! ,int]nal ,rev5ue ,code (   
#aihf is am5d$ by ins]t+ aft] section   
#be;,d ! foll[+ new section3  #be;,e4   
,cr$it = college prep>ation exp5ses  7a7
 ,all[ance ( cr$it ,9 ! case ( an       
individual1 !re %all be all[$ z a cr$it 
aga9/ ! tax impos$ by ?is *apt] = su*   
taxable ye> an am\nt equal to s mu* ( ! 
qualifi$ college prep>ation exp5ses paid
 or incurr$ by ! taxpay] dur+ su*       
taxable ye> z does n exce$ #ejj4  7b7   
,qualifi$ college prep>ation exp5ses ,= 

purposes ( ?is section1 ! t]m qualifi$  
college prep>ation exp5ses means am\nts 
paid or incurr$ =--  7#a7 fees requir$ =
 tak+ any ,advanc$ ,placem5t or         
,int]national ,baccalaureate exam1  7#b7
 fees requir$ = tak+ ! ,,sat1 ! ,,act1  
or any ,,sat ,subject ,te/1  7#c7       
exp5ses relat$ to prep>ation 7includ+   
tutorial s]vices & prep>ation classes7 =
 any exam describ$ 9 p>agraph 7#a7 or   
7#b71  7#d7 fees & exp5ses relat$ to    
applications = admission to pursue a    
po/second>y c\rse ( /udy at an eligible 
educational in/itution 7z def9$ 9       
section #be;,a7f77#b771 &  7#e7 su* o!r 
simil> exp5ses & fees z ! ,secret>y may 
by regulation prescribe4  7c7 ,election 
,no cr$it %all be all[$ "u subsection   
7a7 ) respect to any exp5ses paid or    
incurr$ dur+ ! taxable ye> ) respect to 
any individual = :om an election is n 9 
effect "u ?is section = su* taxable ye>4
  7d7 ,cr$it all[$ only = #c taxable    
ye>s ,an election "u ?is section )      
respect to any individual may n be made 

= any taxable ye> if su* an election is 
9 effect ) respect to su* individual =  
any #c prior taxable ye>s4  7e7         
,treatm5t ( exp5ses paid by dep5d5t ,if 
a d$uction "u section #aea ) respect to 
an individual is all[$ to ano!r taxpay] 
= a taxable ye> beg9n+ 9 ! cal5d> ye> 9 
:i* su* individual's taxable ye> beg9s--
  7#a7 no cr$it %all be all[$ "u        
subsection 7a7 to su* individual = su*  
individual's taxable ye>1 &  7#b7       
qualifi$ college prep>ation exp5ses paid
 by su* individual dur+ su* individual's
 taxable ye> %all be treat$ = purposes (
 ?is section z paid by su* o!r taxpay]4 
4  7b7 ,cl]ical am5dm5t ,! table (      
sections = subp>t ,a ( "p ,,iv (        
sub*apt] ,a ( *apt] #a ( ! ,int]nal     
,rev5ue ,code ( #aihf is am5d$ by ins]t+
 aft] ! item relat+ to section #be;,d ! 
foll[+ new item3  ,sec4 #be;,e4 ,cr$it =
 college prep>ation exp5ses4  4  7c7    
,effective date ,! am5dm5ts made by ?is 
section %all apply to taxable ye>s      
beg9n+ aft] ! date ( ! enactm5t ( ?is   

,act4