A bill to amend the Internal Revenue Code of 1954 to allow a refundable credit against the individual income tax for tuition paid for the elementary or secondary education of dependents.

[AI summary unavailable — showing source text] Allows a credit against the income tax for amounts paid during the year to any private, nonprofit elementary or secondary school for the education of a dependent. Limits the allowable credit, per dependent, to $400, or 50 percent of the tuition paid for such education during the year, whichever is less, with a progressive decrease of this limitation for individuals who have an adjusted gross income that is greater than $25,000.…