|Federal Legislation||August 29, 2002|
H.R. 5192—Education Freedom Act
None at this time.
Official purpose: To amend the Internal Revenue Code of 1986 to allow a credit for contributions for the benefit of elementary and secondary schools.
Introduced July 23, 2002 by Rep. Bob Schaffer (R-CO 4th)
|7/23/2002:||Referred to the House Committee on Ways and Means.|
Bill Summary and Status
HSLDA supports H.R. 5192. This bill amends the Internal Revenue Code to permit a tax credit for 50 percent of certain cash contributions by a taxpayer to an education investment organization or to an elementary or secondary school. H.R. 5192 sets a maximum credit of $50,000 for corporations and $250 for other taxpayers ($500 for a joint return). Section 4 revises the previous definition of school to include "a public, private, religious, or home school."
| Other Resources|
H.R. 5192 (pdf)