To amend the Internal Revenue Code of 1986 to make the Hope and Lifetime Learning Credits refundable, and to allow taxpayers to obtain short-term student loans by using the future refund of such credits as collateral for the loans.
About This Bill
Committee
Latest Action · May 19, 2003
Referred to the House Committee on Ways and Means.
Amends the Internal Revenue Code to: (1) move the Hope and Lifetime Learning credits from subpart A (Nonrefundable Personal Credits) to subpart C (Refundable Credits); and (2) permit the use of a future refund of such credits as collateral for short-term student loans.Establishes a three-year limit on the use of a refund as collateral.
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