H.R.386

To amend the Internal Revenue Code of 1986 to simplify and improve the current education tax incentives.

1/9/2009--Introduced.

College Learning Access Simplicity and Savings Act of 2009 or the CLASS Act of 2009 - Amends the Internal Revenue Code to replace the Hope Scholarship tax credit with the College Affordability Credit, which shall allow: (1) a partially refundable tax credit of up to $1,200 for qualified tuition and related expenses (including required course materials) at an institution of higher education; and (2) an additional 50% tax credit for such expenses exceeding $1,200 but not exceeding $4,800.

Repeals the tax deduction for qualified tuition and related expenses.

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