DIGEST OF INTRODUCED BILL
Deduction for postsecondary tuition. Provides a deduction to an individual in each taxable year for qualified tuition and related expenses paid by the individual during the taxable year. Limits the amount of the deduction to $4,000 per taxable year for an individual filing a single return and $8,000 per taxable year for a married couple filing a joint return. Provides for a lifetime limit of $20,000 of deductions for qualified tuition and related expenses per individual for all taxable years.