What is the official ID of this bill?
The official print number for this legislation is HR 6702.
New Nonrefundable Tax Credit for Elementary and Secondary School Supplies.
This proposal creates a new nonrefundable tax credit allowing families to reduce their tax bill by up to $200 annually for expenses related to school supplies, books, and equipment for dependent students. The credit is designed to help offset the costs of education for children attending elementary or secondary school. High-income taxpayers (Modified Adjusted Gross Income over $150,000) will see this credit phased out.
Key points
Allows taxpayers to claim up to $200 per year as a nonrefundable credit for school supplies.
Covers expenses for dependents enrolled in elementary or secondary schools (public, private, or religious).
The benefit is reduced or eliminated for taxpayers whose income exceeds $150,000 MAGI.
The changes apply to taxable years beginning after December 31, 2023.
Status:
Expired
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