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H.R. 121: Local Education Authority Returns Now Act

Title: Local Education Authority Returns Now Act

Introduced: Jan 6, 2015 (114th Congress)

Sponsor: (No First Name Found) (No Last Name Found) [-]

Status: Referred to Committee - Referred to the Subcommittee on Early Childhood, Elementary, and Secondary Education.

Summary: Local Education Authority Returns Now Act This bill requires the Secretary of the Treasury to make an annual determination of states that have chosen to opt-out of K-12 education grant programs and the Secretary of Education to determine credits due to states as opt-out state education amounts. The bill also amends the Internal Revenue Code to allow individual taxpayers in states that opt-out a refundable tax credit for a share of the opt-out amount creditable to such states.

Votes

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