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 50 percent of the amounts of charitable contributions made to any institution of higher learning. Limits such credit for a taxpayer to the lesser of 20 percent of the taxpayers total tax or $200 ($400 in the case of married couple filing jointly). Bars treatment of a contribution as a tax deduction and a tax credit and specifies that the credit is not to result in a tax refund.…