I 
110TH CONGRESS 
1ST SESSION H. R. 2672 
To amend the Internal Revenue Code of 1986 to provide a deduction for 
the cost of attendance at an eligible educational institution. 
IN THE HOUSE OF REPRESENTATIVES 
JUNE 12, 2007 
Mr. SMITH of Nebraska (for himself, Mr. DOOLITTLE, and Mr. PAUL) intro-
duced the following bill; which was referred to the Committee on Ways 
and Means 
A BILL 
To amend the Internal Revenue Code of 1986 to provide 
a deduction for the cost of attendance at an eligible 
educational institution. 
Be it enacted by the Senate and House of Representa-
tives of the United States of America in Congress assembled, 
SECTION 1. SHORT TITLE. 
This Act may be cited as the ‘‘Real Access to College 
Education Act of 2007’’. 
SEC. 2. DEDUCTION FOR QUALIFIED POST-SECONDARY 
EDUCATIONAL EXPENSES. 
(a) IN GENERAL.—Part VII of subchapter B of chap-
ter 1 of the Internal Revenue Code of 1986 (relating to 
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additional itemized deductions) is amended by redesig-
nating section 224 as section 225 and by inserting after 
section 223 the following new section: 
‘‘SEC. 224. COSTS OF POST-SECONDARY EDUCATION. 
‘‘(a) IN GENERAL.—In the case of an individual, 
there shall be allowed as a deduction an amount equal to 
the qualified post-secondary educational expenses paid or 
incurred by the taxpayer with respect to the taxpayer and, 
in the case of a joint return, the taxpayer’s spouse. 
‘‘(b) LIMITATIONS.— 
‘‘(1) 
DOLLAR
AMOUNT
LIMITATION.—The 
qualified post-secondary educational expenses taken 
into account under subsection (a) with respect to 
any individual for any taxable year shall not exceed 
$13,150. 
‘‘(2) LIMITATION
BASED
ON
MODIFIED
AD-
JUSTED GROSS INCOME.— 
‘‘(A) IN
GENERAL.—The amount which 
would (but for this paragraph) be taken into ac-
count under subsection (a) for the taxable year 
shall be reduced (but not below zero) by the 
amount determined under subparagraph (B). 
‘‘(B) 
AMOUNT
OF
REDUCTION.—The 
amount determined under this subparagraph is 
the amount which bears the same ratio to the 
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amount which would be so taken into account 
as— 
‘‘(i) the excess of— 
‘‘(I) the taxpayer’s modified ad-
justed gross income for such taxable 
year, over 
‘‘(II) 
$55,000 
(twice 
such 
amount in the case of a joint return), 
bears to 
‘‘(ii) $10,000 ($20,000 in the case of 
a joint return). 
‘‘(C) MODIFIED
ADJUSTED
GROSS
IN-
COME.—For purposes of this paragraph, the 
term ‘modified adjusted gross income’ means 
the adjusted gross income of the taxpayer for 
the taxable year increased by any amount ex-
cluded from gross income under section 911, 
931, or 933. 
‘‘(c) QUALIFIED POST-SECONDARY EDUCATIONAL 
EXPENSES.—For purposes of this section, the term ‘quali-
fied post-secondary educational expenses’ means— 
‘‘(1) qualified tuition and related expenses (as 
defined in section 25A(f)(1)), and 
‘‘(2) reasonable costs incurred for room and 
board of the individual while such individual is at-
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tending an eligible educational institution (as de-
fined in section 25A(f)(2)) which are not in excess 
of 
the 
limitations 
imposed 
under 
section 
529(e)(3)(B)(ii). 
‘‘(d) STUDENT MUST BE AT LEAST HALF TIME.— 
No expense shall be taken into account under subsection 
(a) with respect to any individual unless such individual 
is an eligible student (as defined in section 25A(b)(3)) 
with respect to the academic period to which such expense 
relates. 
‘‘(e) APPLICATION OF CERTAIN RULES.—Rules simi-
lar to the rules of subsections (e) and (g) of section 25A 
shall apply for purposes of this section. 
‘‘(f) INFLATION ADJUSTMENT.— 
‘‘(1) IN GENERAL.—In the case of a taxable 
year beginning after 2007, the dollar amounts con-
tained in paragraphs (1) and (2)(B)(i)(II) of sub-
section (b) shall each be increased by an amount 
equal to— 
‘‘(A) such dollar amount, multiplied by 
‘‘(B) the cost-of-living adjustment deter-
mined under section 1(f)(3) for the calendar 
year in which the taxable year begins, deter-
mined by substituting ‘calendar year 2006’ for 
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‘calendar year 1992’ in subparagraph (B) 
thereof. 
‘‘(2) ROUNDING.—If any amount as adjusted 
under paragraph (1) is not a multiple of $1,000 
such amount shall be rounded to the next lowest 
multiple of $1,000. In the case of the adjustment of 
the dollar amount contained in subsection (b)(1), the 
previous sentence shall be applied by substituting 
‘$50’ for ‘$1,000’.’’. 
(b) DEDUCTION
ALLOWED
IN
COMPUTING
AD-
JUSTED GROSS INCOME.—Subsection (a) of section 62 of 
such Code is amended by inserting before the last sentence 
the following new paragraph: 
‘‘(22) 
COSTS
OF
POST-SECONDARY
EDU-
CATION.—The deduction allowed by section 224.’’. 
(c) CLERICAL AMENDMENT.—The table of sections 
for part VII of subchapter B of chapter 1 of such Code 
is amended by redesignating the item relating to section 
224 as an item relating to section 225 and inserting before 
such item the following new item: 
‘‘Sec. 224. Costs of post-secondary education.’’. 
(d) EFFECTIVE DATE.—The amendments made by 
this section shall apply to taxable years beginning after 
December 31, 2006. 
Æ 
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