Higher Education Gift Incentive Act

[AI summary unavailable — showing source text] Higher Education Gift Incentive Act - Allows under the Internal Revenue Code an income tax credit equal to the amounts of charitable contributions made to any institution of higher education. Limits such credit, in the case of taxpayers other than corporations, to the lesser of 20 percent of the taxpayers total tax or $100. Places such limit at 10 percent of a corporation's total tax or $5,000 whichever is less. Bars treatment of a contribution as both a tax deduction and a tax credit and specifies that the credit is not to result in a tax refund.…