A bill to amend the Internal Revenue Code of 1954 to allow an income tax credit for tuition expenses of the taxpayer or the taxpayer's spouse or dependent at an institution of higher education.

[AI summary unavailable — showing source text] Allows under the Internal Revenue Code an income tax credit for tuition expenses of the taxpayer or the taxpayer's spouse or dependent at an institution of higher education. Limits such credit to: (1) full time students; (2) a maximum $1,500; and (3) the amount of the income tax imposed reduced by other specified allowable credits.…