Southeastern Educational Incentive Act
1. The Southeast shall provide a $1,000 tax credit per student to all households who have a member enrolled in an institute of higher learning full-time, and a $500 tax credit to a member enrolled part-time.
2. The credit provided shall not exceed the total value of the income tax assessed. (i.e. taxation cannot be less than $0)
3. A full-time student shall be deemed any student who successfully completes a total of 24 credit hours per year, or completes 12 credit hours per semester.
4. A part-time student shall be deemed any student who successfully completes at least 6, but no more than 23 credit hours per year, or who completes at least 3, but no more than 11, credit hours per semester.
5. This law shall take effect starting for students enrolled within institutes of higher learning during the semester starting in the Fall of 2010.