Amends the Internal Revenue Code to allow a tax credit to individuals who provide mentoring services to young adults between the ages of 18 and 22. Requires such individuals to participate in a one-on-one relationship as a positive role model with such young adults and to conduct meetings and activities with them on not less than a monthly basis.
[Congressional Bills 110th Congress]
[From the U.S. Government Printing Office]
[H.R. 5660 Introduced in House (IH)]
110th CONGRESS
2d Session
H. R. 5660
To amend the Internal Revenue Code of 1986 to allow a nonrefundable
credit for mentoring and housing young adults.
_______________________________________________________________________
IN THE HOUSE OF REPRESENTATIVES
March 31, 2008
Mr. Meek of Florida introduced the following bill; which was referred
to the Committee on Ways and Means
_______________________________________________________________________
A BILL
To amend the Internal Revenue Code of 1986 to allow a nonrefundable
credit for mentoring and housing young adults.
Be it enacted by the Senate and House of Representatives of the
United States of America in Congress assembled,
SECTION 1. NONREFUNDABLE CREDIT FOR MENTORING AND HOUSING YOUNG ADULTS.
(a) In General.--Subpart A of part IV of subchapter A of chapter 1
of the Internal Revenue Code of 1986 is amended by inserting after
section 25D the following new section:
``SEC. 25E. MENTORING AND HOUSING CERTAIN YOUNG ADULTS.
``(a) Allowance of Credit.--In the case of a taxpayer who is a
qualified mentor, there shall be allowed as a credit against the tax
imposed by this chapter for the taxable year with respect to each
qualifying mentored individual by the taxpayer an amount equal to
$1,000.
``(b) Limitations.--
``(1) Proration of credit for years in which individual
attains age 18 and 21.--In the case of a qualifying mentored
individual who attains age 18 or 21 during the taxable year,
the credit allowed under subsection (a) shall be the amount
specified in subsection (a) multiplied by a fraction, the
numerator of which is the number of days in the taxable year
such individual is 18 or 20 (as the case may be) and the
denominator of which is the number of days in the taxable year.
``(2) Limitation based on amount of tax.--In the case of a
taxable year to which section 26(a)(2) does not apply, the
credit allowed under subsection (a) for any taxable year shall
not exceed the excess of--
``(A) the sum of the regular tax liability (as
defined in section 26(b)) plus the tax imposed by
section 55, over
``(B) the sum of the credits allowable under this
subpart (other than this section) and section 27 for
the taxable year.
``(c) Definitions.--For purposes of this section--
``(1) Qualified mentor.--The term `qualified mentor' means
an individual--
``(A) who attained the age of 21 before the
beginning of the taxable year,
``(B) with respect to whom any agency certified by
the State (including a private mentoring agency and
governmental mentoring agency) in which the taxpayer
has his principle place of abode to provide or
facilitate mentoring services has placed a qualifying
mentored individual, and
``(C) who is in compliance with the mentoring
requirements of such agency or State with respect to
the qualifying mentored individual.
``(2) Mentoring requirements.--The term `mentoring
requirements' includes participating in a one-on-one
relationship as a positive role model with a qualifying
mentored individual and involves meetings and activities on not
less than a monthly basis.
``(3) Qualifying mentored individual.--The term `qualifying
mentored individual' means an individual who--
``(A) has attained the age of 18 as of the close of
the taxable year but did not attain age 22 during the
taxable year,
``(B) as of the day before the date on which the
individual attained the age of 18, was placed by an
authorized placement agency or by judgment, decree, or
other order of any court of competent jurisdiction, and
``(C) has the same principal place of abode as the
taxpayer for more than one-half of such taxable year.
``(d) Identification Requirement.--No credit shall be allowed under
this section to a taxpayer with respect to a qualifying mentored
individual unless the taxpayer includes the name and taxpayer
identification number of such qualifying mentored individual on the
return of tax for the taxable year.
``(e) Taxable Year Must Be Full Taxable Year.--Except in the case
of a taxable year closed by reason of the death of the taxpayer, no
credit shall be allowable under this section in the case of a taxable
year covering a period of less than 12 months.''.
(b) Conforming Amendments.--
(1) Section 23(b)(4)(B) of such Code is amended by
inserting ``and section 25E'' after ``this section''.
(2) Section 24(b)(3)(B) of such Code is amended by striking
``and 25B'' and inserting ``, 25B, and 25E''.
(3) Section 25B(g)(2) of such Code is amended by striking
``section 23'' and inserting ``sections 23 and 25E''.
(4) Section 26(a)(1) of such Code is amended by striking
``and 25B'' and inserting ``25B, and 25E''.
(c) Clerical Amendment.--The table of sections for subpart A of
part IV of subchapter A of chapter 1 of such Code is amended by
inserting after the item relating to section 25D the following new
section:
``Sec. 25E. Mentoring and housing certain young adults.''.
(d) Effective Date.--The amendments made by this section shall
apply to taxable years beginning after the date of the enactment of
this Act.
<all>
Introduced in House
Introduced in House
Referred to the House Committee on Ways and Means.
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