article: SECTION 1. SHORT TITLE. This Act may be cited as the ``Teacher Tax Credit Act of 2007''. SEC. 2. CREDIT FOR EDUCATION EXPENSES OF ELEMENTARY AND SECONDARY SCHOOL TEACHERS. (a) In General.--Subpart C of part IV of subchapter A of chapter 1 (relating to refundable credits) is amended-- (1) by redesignating section 36 as section 37, and (2) by inserting after section 35 the following new section: ``SEC. 36. CREDIT FOR EDUCATION EXPENSES OF ELEMENTARY AND SECONDARY SCHOOL TEACHERS. ``(a) Allowance of Credit.--In the case of an eligible teacher, there shall be allowed as a credit against the tax imposed by this subtitle for the taxable year, an amount equal to 50 percent of so much of the qualified elementary and secondary education expenses and qualified professional development expenses paid or incurred by such eligible teacher during the taxable year as does not exceed $300. ``(b) Definitions.--For purposes of this section-- ``(1) Eligible teacher.--The term `eligible teacher' means an individual who is a kindergarten through grade 12 classroom teacher, instructor, counselor, aide, or principal in an elementary or secondary school on a full-time basis for an academic year ending during a taxable year. ``(2) Qualified elementary and secondary education expenses.--The term `qualified elementary and secondary education expenses' means expenses for 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 an eligible teacher in the classroom. ``(3) Qualified professional development expenses.-- ``(A) In general.--The term `qualified professional development expenses' means expenses for tuition, fees, books, supplies, equipment, and transportation required for the enrollment or attendance of an individual in a qualified course of instruction. ``(B) Qualified course of instruction.--The term `qualified course of instruction' means a course of instruction which-- ``(i) is-- ``(I) directly related to the curriculum and academic subjects in which an eligible teacher provides instruction, or ``(II) designed to enhance the ability of an eligible teacher to understand and use State standards for the academic subjects in which such teacher provides instruction, ``(ii) may-- ``(I) provide instruction in how to teach children with different learning styles, particularly children with disabilities and children with special learning needs (including children who are gifted and talented), or ``(II) provide instruction in how best to discipline children in the classroom and identify early and appropriate interventions to help children described in subclause (I) to learn, ``(iii) is tied to challenging State or local content standards and student performance standards. ``(iv) is tied to strategies and programs that demonstrate effectiveness in increasing student academic achievement and student performance, or substantially increasing the knowledge and teaching skills of an eligible teacher, ``(v) is of sufficient intensity and duration to have a positive and lasting impact on the performance of an eligible teacher in the classroom (which shall not include 1-day or short-term workshops and conferences), except that this clause shall not apply to an activity if such activity is 1 component described in a long-term comprehensive professional development plan established by an eligible teacher and the teacher's supervisor based upon an assessment of the needs of the teacher, the students of the teacher, and the local educational agency involved, and ``(vi) is part of a program of professional development which is approved and certified by the appropriate local educational agency as furthering the goals of the preceding clauses. ``(C) Local educational agency.--The term `local educational agency' has the meaning given such term by section 9101(26) of the Elementary and Secondary Education Act of 1965 (20 U.S.C. 7801(26)), as in effect on the date of the enactment of this section. ``(4) Elementary or secondary school.--The term `elementary or secondary school' means any school which provides elementary education or secondary education (through grade 12), as determined under State law. ``(c) Denial of Double Benefit.--No deduction shall be allowed under this chapter for any expense for which a credit is allowed under this section. ``(d) Election To Have Credit Not Apply.--A taxpayer may elect to have this section not apply for any taxable year.''. (b) Clerical Amendment.--The table of sections for subpart C of part IV of subchapter A of chapter 1 is amended by striking the item relating to section 36 and inserting after the item relating to section 35 the following new items: ``Sec. 36. Credit for education expenses of elementary and secondary school teachers. ``Sec. 37. Overpayments of tax.''. (c) Effective Date.--The amendments made by this section shall apply to taxable years beginning after December 31, 2007.
summary: Teacher Tax Credit Act of 2007 - Amends the Internal Revenue Code to allow elementary and secondary school (K-12) teachers a tax credit for 50% of their education expenses (books, supplies, computer equipment, and supplementary materials) and their professional development expenses up to $300 in any taxable year.