Detailed Instructions: In this task, you are given text for US Congressional and California state bills, your task is to generate a summary for this bill.
Q: SECTION 1. SHORT TITLE.

This Act may be cited as the ''Personal Access to Continued
Education Act of 2003''.

SEC. 2. HOPE SCHOLARSHIP CREDIT MADE REFUNDABLE; REPEAL OF LIFETIME
LEARNING CREDIT.

(a) Hope Credit To Be Refundable.--Section 25A of the Internal
Revenue Code of 1986 (relating to Hope and Lifetime Learning credits)
is hereby moved to subpart C of part IV of subchapter A of chapter 1 of
such Code (relating to refundable credits) and inserted after section
35.
(b) Repeal of Lifetime Learning Credit.--Subsection (a) of section
36 of such Code (as moved by subsection (a) and redesignated by
subsection (c)) is amended by striking ''the sum of--'' and all that
follows and inserting '' the Hope Scholarship Credit.''.
(c) Technical Amendments.--
(1) Section 36 of such Code is redesignated as section 37.
(2) Section 25A of such Code (as moved by subsection (a))
is redesignated as section 36.
(3) Section 36 of such Code (as redesignated by paragraph
(2)) is amended as follows:
(A) Such section is amended by striking subsection
(c) and redesignating subsections (d) through (i) as
subsections (c) through (h), respectively.
(B) Subsection (f)(2)(A) of such section (as
amended by subparagraph (A)) is amended by striking
''(b), (c), and (d)'' and inserting ''(b) and (c)''.
(C) Subsection (g)(2)(A) of such section (as
amended by subparagraph (A)) is amended by striking
''subsection (d)(2)'' and inserting ''subsection
(c)(2)''.
(4) Paragraph (1) of section 36(a) of such Code (as
redesignated by paragraph (2)) is amended by striking ''this
chapter'' and inserting ''this subtitle''.
(5) Subparagraph (B) of section 72(t)(7) of such Code is
amended by striking ''section 25A(g)(2)'' and inserting
''section 36(f)(2)''.
(6) Subparagraph (A) of section 135(d)(2) of such Code is
amended by striking ''section 25A'' and inserting ''section
36''.
(7) Section 221(e) of such Code is amended--
(A) in paragraph (2)(B), by striking ''section
25A(g)(2)'' and inserting ''section 36(f)(2)'' and by
striking ''section 25A(f)(2)'' and inserting ''section
36(e)(2)'', and
(B) in paragraph (3), by striking ''section
25A(b)(3)'' and inserting ''section 36(b)(3)''.
(8) Section 222 of such Code is amended--
(A) in subsection (c)(2)(A) by striking ''section
25A'' and inserting ''36'', and
(B) in subsection (d)(1)--
(i) by striking ''section 25A(f)'' and
inserting ''section 36(e)'', and
(ii) by striking ''section 25A(g)(2)'' and
inserting ''36(f)(2)''.
(9) Section 529 of such Code is amended--
(A) in subsection (c)(3)(B)(v)(I) by striking
''section 25A(g)(2)'' and inserting ''section
36(f)(2)'',
(B) in subsection (c)(3)(B)(v)(II) by striking
''section 25A'' and inserting ''section 36'', and
(C) in subsection (e)(3)(B)(i) by striking
''section 25A(b)(3)'' and inserting ''section
36(b)(3)''.
(10) Section 530(d) of such Code is amended--
(A) in paragraph (2)(C)(i)(I) by striking ''section
25A(g)(2)'' and inserting ''section 36(f)(2)'',
(B) in paragraph (2)(C)(i)(II) by striking
''section 25A'' and inserting ''section 36'', and
(C) in paragraph (4)(B)(iii) by striking ''section
25A(g)(2)'' and inserting ''section 36(f)(2)''.
(11) Subsection (e) of section 6050S of such Code is
amended by striking ''section 25A (without regard to subsection
(g)(2) thereof)'' and inserting ''section 36 (without regard to
subsection (f)(2) thereof)''.
(12) Subparagraph (J) of section 6213(g)(2) of such Code is
amended by striking ''section 25A(g)(1)'' and inserting
''section 36(f)(1)''.
(13) Paragraph (2) of section 1324(b) of title 31, United
States Code, is amended by inserting ''or 36'' after ''section
35''.
(14) The heading for section 36 of such Code is amended to
read as follows:

''SEC. 36. HOPE SCHOLARSHIP CREDIT.''.

(15) The table of sections for subpart C of part IV of
subchapter A of chapter 1 of the Internal Revenue Code of 1986
is amended by striking the item relating to section 36 and
inserting the following:

''Sec. 36. Hope and Lifetime Learning
credits.
''Sec. 37. Overpayments of tax.''
(16) The table of sections for subpart A of such part IV is
amended by striking the item relating to section 25A.
(d) Effective Date.--The amendments made by this section shall
apply to taxable years beginning after December 31, 2004.

SEC. 3. EXPANSION OF HOPE SCHOLARSHIP CREDIT.

(a) Eligible Student.--Paragraph (3) of section 36(b) of the
Internal Revenue Code of 1986 (as amended by section 2) is amended to
read as follows:
''(3) Eligible student.--For purposes of this section--
''(A) In general.--Except as provided in
subparagraph (B), the term 'eligible student' means,
with respect to any academic period, a student who
meets the requirements of section 484(a)(1) of the
Higher Education Act of 1965 (20 U.S.C. 1091(a)(1)), as
in effect on the date of the enactment of this section.
''(B) Special rule for job skills courses.--In the
case of any course of instruction at an eligible
educational institution to acquire or improve job
skills of the individual, such term means the
individual.''.
(b) Repeal of Limitations Relating to Credit Allowed Only for First
2 Years of Postsecondary Education and Convictions for Certain
Offenses.--Paragraph (2) of section 36(b) of such Code (as amended by
section 2) is amended by striking subparagraphs (C) and (D).
(c) Increase in Credit Amount.--
(1) In general.--Paragraph (1) of section 36(b) of such
Code (as amended by section 2) is amended--
(A) in subparagraph (A) by striking ''$1,000'' and
inserting ''$1,500'', and
(B) in subparagraph (B) by striking ''applicable
limit'' and inserting ''$2,500''.
(2) Inflation adjustment.--Subparagraph (A) of section
36(h)(1) of such Code (as amended by section 2) is amended--
(A) by striking ''2001'' and inserting ''2005'',
and
(B) by striking ''$1,000'' and inserting
''dollar''.
(d) Hope Scholarship Credit Not Reduced by Federal Pell Grants and
Supplemental Educational Opportunity Grants.--Subsection (f) of section
36 of such Code (as amended by section 2) is amended by adding at the
end the following new paragraph:
''(8) Pell and seog grants.--For purposes of the Hope
Scholarship Credit, paragraph (2) shall not apply to amounts
paid for an individual as a Federal Pell Grant or a Federal
supplemental educational opportunity grant under subparts 1 and
3, respectively, of part A of title IV of the Higher Education
Act of 1965 (20 U.S.C. 1070a and 1070b et seq.,
respectively).''.
(e) Qualified Tuition and Related Expenses Expanded to Include
Books, Supplies, Equipment, and Job Skill Courses.--
(1) In general.--Paragraph (1) of section 36(e) of such
Code (as amended by section 2)) is amended by adding at the end
the following new subparagraphs:
''(D) Additional expenses allowed for hope
scholarship credit.--For purposes of the Hope
Scholarship Credit, such term shall include fees,
books, supplies, and equipment required for courses of
instruction at the eligible educational institution.
''(E) Job skills courses.--Such term shall include
expenses described in subparagraph (A) (determined
after the application of subparagraphs (B) and (C))
with respect to any course of instruction at an
eligible educational institution to acquire or improve
job skills of the individual.''.
(2) Expanded hope expenses not subject to information
reporting requirements.--Subsection (e) of section 6050S of
such Code (as amended by section 2) is amended by striking
''subsection (f)(2)'' and inserting ''subsections (e)(1)(D) and
(e)(2)''.
(f) Effective Date.--The amendments made by this section shall
apply to taxable years beginning after December 31, 2004.
A:
Personal Access to Continued Education Act of 2003 - Amends the Internal Revenue Code to: (1) repeal the Lifetime Learning Credit; (2) make the Hope Credit refundable; (3) increase the Hope Credit; (4) specify that such credit shall not be reduced by either Pell grants or supplemental educational opportunity grants; and (5) allow additional qualifying expenses for such credit, including job skills courses.