A bill to amend the Internal Revenue Code of 1954 to provide a 30-percent credit against the individual income tax for amounts paid as tuition or fees to certain public or private institutions of higher education.

Provides for a 30-percent tax credit under the Internal Revenue Code of 1954 against the individual income tax for amounts paid as tuition or fees to public and private institutions of higher education. (Adds 26 U.S.C. 39)