1. Short title
This Act may be cited as the “Lifetime Learning Credit Enhancement Act”.
Lifetime Learning Credit Enhancement Act
A BILL
To amend the Internal Revenue Code of 1986 to increase the income-based limitations for the Lifetime Learning Credit, and for other purposes.
2. Increase income limitations for phaseout of Lifetime Learning Credit
in subsection (d)(2)(A)(ii), by striking “$40,000 ($80,000” and inserting “$80,000 ($160,000”, and
in subsection (h)(1)—
by striking “after 2001, the $40,000 and $80,000 amounts” and inserting “after 2020, the $80,000 and $160,000 amounts”, and
by striking “calendar year 2000” and inserting “calendar year 2019”.
Effective date— The amendments made by this section shall apply to taxable years beginning after December 31, 2019.
3. Repeal of expired deduction for qualified tuition and related expenses
In general— Part VII of subchapter B of chapter 1 of the Internal Revenue Code of 1986 is amended by striking section 222 (and by striking the item relating to such section in the table of sections for such part).
Conforming amendments—
Section 62(a) of such Code is amended by striking paragraph (18).
Section 74(d)(2)(B) of such Code is amended by striking “222,”.
Section 86(b)(2)(A) of such Code is amended by striking “222,”.
Section 135(c)(4)(A) of such Code is amended by striking “222,”.
Section 137(b)(3)(A) of such Code is amended by striking “222,”.
Section 219(g)(3)(A)(ii) of such Code is amended by striking “222,”.
Section 221(b)(2)(C)(i) of such Code is amended by striking “222,”.
Section 469(i)(3)(E)(iii) of such Code is amended by striking “222,”.
Effective date— The amendments made by this section shall apply to taxable years beginning after December 31, 2017.