Federal Legislation	August 29, 2002

H.R. 5192—Education Freedom Act

Action Requested:
None at this time.

Background:

Official purpose: To amend the Internal Revenue Code of 1986 to allow a credit for contributions for the benefit of elementary and secondary schools.

Introduced July 23, 2002 by Rep. Bob Schaffer (R-CO 4th)

Cosponsors

Status:

7/23/2002:

Referred to the House Committee on Ways and Means.

Bill Summary and Status

HSLDA's Position:

HSLDA supports H.R. 5192. This bill amends the Internal Revenue Code to permit a tax credit for 50 percent of certain cash contributions by a taxpayer to an education investment organization or to an elementary or secondary school. H.R. 5192 sets a maximum credit of $50,000 for corporations and $250 for other taxpayers ($500 for a joint return). Section 4 revises the previous definition of school to include "a public, private, religious, or home school."

Other Resources

H.R. 5192 (pdf)