,,ii  #aagth ,,congress  #ast ,session  
,s4 #bdfe  ,,in ,,the ,,senate ,,of     
,,the ,,united ,,states  ,july #bb1     
#bjba,mr4 ,menendez 7for himself1 ,mr4  
,brown1 ,mr4 ,wyden1 and ,mr4 ,padilla7 
introduced the following bill2 which was
 read twice and referred to the         
,committee on ,finance  ,a ,,bill  ,to  
amend the ,internal ,revenue ,code of   
#aihf to make the ,american ,opportunity
 ,tax ,credit fully refundable1 and for 
other purposes4  #a4 ,short title ,this 
,act may be cited as the ,american      
,opportunity ,tax ,credit ,enhancement  
,act of #bjba4  #b4 ,enhancement of     
,american ,opportunity ,tax ,credit  7a7
 ,in general ,section #be;,a of the     
,internal ,revenue ,code of #aihf is    
amended-- 7#a7 in subsection 7b7-- 7,a7 
by striking paragraph 7#a7 and inserting
 the following3  7#a7 ,per student      
credit ,in the case of any eligible     
student for whom an election is in      
effect under this section for any       
taxable year1 the ,american ,opportunity

 ,tax ,credit is an amount equal to #ajj
 percent of so much of the qualified    
tuition and related expenses paid by the
 taxpayer during the taxable year 7for  
education furnished to the eligible     
student during any academic period      
beginning in such taxable year7 as does 
not exceed #e1jjj4  1 and  7,b7 in      
paragraph 7#b77;,d7-- 7i7 in the        
heading1 by inserting serious before    
felony1 and  7ii7 by striking ,federal  
or ,state felony offense consisting of  
the possession or distribution of a     
controlled substance and inserting      
,federal drug-related offense for which 
the minimum term of imprisonment is not 
less than #ae years1  7#b7 in subsection
 7d7-- 7,a7 in paragraph 7#a7-- 7i7 in  
the heading1 by striking ,in general and
 inserting ,lifetime ,learning ,credit1 
7ii7 by striking ,the ,american         
,opportunity ,tax ,credit and the       
,lifetime ,learning ,credit shall each  
and inserting ,the ,lifetime ,learning  
,credit shall1 and  7iii7 by striking   

each such and inserting such1  7,b7 by  
redesignating paragraph 7#b7 as         
paragraph 7#c71 and  7,c7 by inserting  
after paragraph 7#a7 the following3     
7#b7 ,american ,opportunity ,tax ,credit
 ,in the case of the ,american          
,opportunity ,tax ,credit1 paragraph    
7#a7 shall be applied-- 7,a7 in         
subparagraph 7,a77ii7 of such paragraph1
 by substituting #abe1jjj 7#bej1jjj for 
#hj1jjj 7#afj1jjj1 and  7,b7 in         
subparagraph 7,b7 of such paragraph1 by 
substituting #be1jjj 7#ej1jjj for       
#aj1jjj 7#bj1jjj4  1 and  7#c7 in       
subsection 7i7-- 7,a7 in the heading1 by
 striking ,portion of1 and  7,b7 by     
striking ,forty percent and inserting   
#ajj percent4  7b7 ,effective date ,the 
amendments made by this section shall   
apply to taxable years beginning after  
the date of enactment of this ,act4