To amend the Internal Revenue Code of 1986 to provide a deduction for elementary and secondary private school tuition, and for other purposes.

“224. Elementary and secondary private school tuition

“(a) Allowance of deduction—In the case of an individual, there shall be allowed as a deduction for the taxable year with respect to each dependent for whom the taxpayer is allowed a deduction under section 151 an amount equal to the qualified expenses paid or incurred during the taxable year.

“(b) Limitation—The amount allowed as a deduction under subsection (a) for a taxable year with respect to a dependent shall not exceed $10,000.

“(c) Qualified expenses—For purposes of this section—

“(1) In general—The term qualified expenses means expenses for tuition, fees, books, supplies, and other equipment which are incurred in connection with the enrollment or attendance of an individual as an elementary or secondary school student at a private institutional day or residential school, including a parochial school, or a home school (without regard to whether a home school is treated as a private school or home school under State law), that provides elementary or secondary education, as determined under State law.

“(2) Special rule for home schooling—In the case of a home school, the term qualified expenses does not include tuition.”

“(22) Private education deduction—The deduction allowed by section 224.”