,i  #aad? ,,congress  #b;d ,session  ,h4
 ,r4 #ehjc  ,,9 ,,! ,,h\se ,,(          
,,repres5tatives  ,july #ad1 #bjaf,mr4  
,h>dy introduc$ ! foll[+ bill2 :i* 0    
ref]r$ to ! ,committee on ,ways & ,means
  ,a ,,bill  ,to am5d ! ,int]nal ,rev5ue
 ,code ( #aihf to all[ a tempor>y       
election to accel]ate ! ,am]ican        
,opportunity ,tax ,cr$it4  #a4 ,%ort    
title ,?is ,act may be cit$ z ! ,extra  
,cr$it = ,work+ ,/ud5ts ,act ( #bjaf4   
#b4 ,accel]at$ ,am]ican ,opportunity tax
 cr$it  7a7 ,9 g5]al ,section           
#be;,a7i77#b7 ( ! ,int]nal ,rev5ue ,code
 ( #aihf is am5d$ to read z foll[s3     
7#b7 ,special rule = numb] ( ye>s cr$it 
all[$  7,a7 ,9 g5]al ,subp>agraphs 7,a7 
& 7,c7 ( subsection 7b77#b7 %all be     
appli$ by sub/itut+ #d = #b4  7,b7      
,election to accel]ate cr$it  7i7 ,9    
g5]al ,9 ! case ( an eligible /ud5t )   
respect to :om an election to h ?is     
section apply has n be5 made = any prior
 taxable ye>1 a taxpay] may elect = !   
taxable ye> = subp>agraph 7,a7 n to     

apply ) respect to su* /ud5t & to apply 
p>agraph 7#a7 by sub/itut+ #d1jjj =     
#b1jjj 9 subp>agraph 7,a7 !re( & by     
sub/itut+ #d1jjj b does n exce$ #h1jjj =
 #b1jjj b does n exce$ #d1jjj 9         
subp>agraph 7,b7 !re(4  7ii7 ,election  
irrevocable ,once made1 any su* election
 %all be irrevocable & %all apply )     
respect to su* /ud5t = all subsequ5t    
taxable ye>s4  7iii7 ,t]m9ation ,no     
election may be fir/ made "u clause 7i7 
= any taxable ye> beg9n+ aft] ,decemb]  
#ca1 #bjbb4  4  7b7 ,/udy  7#a7 ,9 g5]al
 ,n lat] ?an ! date t is #a ye> aft] !  
date ( ! enactm5t ( ?is ,act1 & annually
 = ! #e ye>s !reaft]1 ! ,secret>y ( !   
,treasury %all submit a report to       
,congress ) respect to ! election "u    
section #be;,a7i77#b77;,b7 ( ! ,int]nal 
,rev5ue ,code ( #aihf to accel]ate !    
,am]ican ,opportunity ,tax ,cr$it4 ,su* 
report %all include details on !        
election rate ( ! option & !            
demographics ( /ud5ts s elect+4  7#b7   
,report ^u t]m9ation ,9 ! la/ report    

requir$ to be submitt$ "u p>agraph 7#a71
 ! ,secret>y ( ! ,treasury %all include 
an assessm5t ( ! effectiv5ess ( su*     
election at improv+ college completion  
times & ! effectiv5ess ( ! ,am]ican     
,opportunity ,tax ,cr$it1 9 g5]al1 at   
help+ /ud5ts to complete college on "t4 
7c7 ,effective date ,! am5dm5ts made by 
?is section %all apply to taxable ye>s  
beg9n+ aft] ,decemb] #ca1 #bjaf4