Sec. 3. Above-the-line-deduction for STEM education materials

320 words·~1 min read·/bill/116/hr/3099/ih/section-3

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

Section 62(a)(2)(D) of the Internal Revenue Code of 1986 is amended by adding at the end the following flush matter: In the case of taxable years beginning after December 31, 2018, the $250 amount in clause

(i)shall be increased by an amount equal to so much of the amounts paid or incurred by the eligible educator for STEM education supplies as does not exceed $250. . Section 62(d)(3) of such Code is amended to read as follows: In the case of any taxable year beginning after 2015, the first $250 amount in subsection (a)(2)(D) 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 2019, the $250 amount in subsection (a)(2)(D) 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 2018 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, as amended by subsection (b), 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, 2018.