A bill to amend the Internal Revenue Code of 1954 to allow a credit against income tax to individuals for tuition expenses incurred in providing private nonprofit elementary and secondary education.

[AI summary unavailable — showing source text] Allows a credit against income tax under the Internal Revenue Code to individuals for 50 percent of the tuition expenses incurred in providing private nonprofit elementary and secondary education for a dependent. Limits such tax credit to $500, and provides that such tax credit shall not exceed an individual's tax liability. Defines educational institutions that qualify for this tax credit. (Amends 26 U.S.C. 42)…