S. 3267: American Opportunity Tax Credit Permanence and Consolidation Act of 2012
Before you vote › Federal bills
S. 3267: American Opportunity Tax Credit Permanence and Consolidation Act of 2012
112th Congress · introduced 2012-06-06 · Taxation · Latest: Read twice and referred to the Committee on Finance.
federal
Follow this bill, step by step
- Where it came from: introduced 2012-06-06 · official record
- Who proposed it: Sen. Schumer, Charles E. [D-NY] · what a sponsor is
- What happened next: no floor votes in our records yet. Why?
- Where it stands now: Read twice and referred to the Committee on Finance. Not final yet: this can still change. We check for updates every day.
- If it becomes law and spends money: follow the money to money laws, then agencies and contracts and grants.
Official title
American Opportunity Tax Credit Permanence and Consolidation Act of 2012
Plain summary
American Opportunity Tax Credit Permanence and Consolidation Act of 2012 - Amends the Internal Revenue Code to replace the Hope Scholarship and Lifetime Learning tax credits with a new American Opportunity Tax Credit that: (1) allows an income tax credit of up to $3,000 of the qualified tuition and related expenses of a student who is carrying at least one half of a normal course load, (2) increases the income threshold for reductions in the credit amount based upon modified adjusted gross income, (3) allows a lifetime dollar limitation on such credit of $15,000 for all taxable years, and (4) makes 40% of the credit refundable. Allows an exclusion from gross income of any amount received as a Federal Pell Grant.
Congressional Research Service summary (Introduced in Senate), quoted unchanged (nonpartisan). Read the source.
What a vote does
A “Yea” vote
If it passes both chambers and is signed, it becomes law.
A “Nay” vote
If it is not passed, current law stays as it is.
PSI Sci description of the legislative step (not an opinion).
What does this mean? (plain words)
Official text
American Opportunity Tax Credit Permanence and Consolidation Act of 2012
Source: Congressional Research Service summary (Introduced in Senate)
AI explanation – may be wrong, check the official text
No AI explanation yet. It takes up to a minute to write and is then saved for everyone.
Limited to a few requests an hour per person.
The strongest published arguments
Arguments for (supporters)
Needs sources: no published arguments on this side yet. We only show items backed by a published source. Suggest one.
Arguments against (opponents)
Needs sources: no published arguments on this side yet. We only show items backed by a published source. Suggest one.
Alternatives
Needs sources: no published alternatives yet (for example a different bill, a law instead of an amendment, or keeping current law). We only show items backed by a published source. Suggest one.
How did my representative vote? · This bill's floor votes
Officials and money
Sponsor: Sen. Schumer, Charles E. [D-NY] · 3 cosponsors
Cost estimate: No cost estimate published yet.
Cosponsors on this site
Sponsor's campaign money: Sen. Schumer, Charles E. [D-NY] reported raising $1.2 million (2025–2026). Details. Shown for context only; it does not mean any donor supported this bill.
No linked floor roll calls in our collected records yet. This does not mean the bill has never had a vote. Check the official bill history.
Sources
- Congressional Research Service summary (Introduced in Senate)
- Congress.gov
- Data: GovInfo BILLSTATUS bulk data (Library of Congress), BILLSTATUS-112s3267.xml <https://www.govinfo.gov/bulkdata/BILLSTATUS/112/s>
Record fed-us-cong112-s3267 · catalog fed-us-congress-bills-cong112 · updated 2026-11-15 by psicol fed-bills-cong112