Sec. 3. Above-the-line-deduction for STEM education materials
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Section 62(a)(2)(D) of the Internal Revenue Code of 1986 is amended to read as follows: In the case of taxable years beginning after 2001, the deductions allowed by section 162 which consist of expenses, not in excess of $250, paid or incurred by an eligible educator in connection with books, supplies (other than nonathletic supplies for courses of instruction in health or physical education), computer equipment (including related software and services) and other equipment, and supplementary materials used by the eligible educator in the classroom. In the case of STEM education supplies, the amount in clause
(i)shall be increased by $250. Clause
(i)shall be applied without regard to clause (ii). . Paragraph
(3)of section 62(d) of such Code is amended to read as follows: In the case of any taxable year beginning after 2015, the $250 amount in subsection (a)(2)(D)(i) shall be increased by an amount equal to— such dollar amount, multiplied by the cost-of-living adjustment determined under section 1(f)(3) for the calendar year in which the taxable year begins, determined by substituting calendar year 2014 for calendar year 2016 in subparagraph (A)(ii) thereof. In the case of any taxable year beginning after 2018, the $250 amount in subsection (a)(2)(D)(ii) shall be increased by an amount equal to— such dollar amount, multiplied by the cost-of-living adjustment determined under section 1(f)(3) for the calendar year in which the taxable year begins, determined by substituting calendar year 2017 for calendar year 2016 in subparagraph (A)(ii) thereof. Any increase determined under subparagraph
(A)or
(B)shall be rounded to the nearest multiple of $50. . Section 62(d) of such Code is amended is amended by redesignating paragraphs
(2)and
(3)as paragraphs
(3)and (4), respectively, and by inserting after paragraph
(1)the following new paragraph: For purposes of subsection (a)(2)(D), the term STEM education supplies means expenses for books, supplies, equipment, and other materials used in connection with teaching science, technology, engineering, or math. . The heading for section 62(d) of such Code is amended by striking and inserting Definition; special rules . Elementary and secondary school teachers The amendments made by this section shall apply to taxable years beginning after December 31, 2017.