1. Short title This Act may be cited as the Rightfully Investing in Supporting Educators Act or the RISE Act . 2. Refundable teacher tax credit (a) Allowance of tax credit (1) In general Subpart C of part IV of subchapter A of chapter 1 of the Internal Revenue Code of 1986 is amended by inserting after section 36B the following new section: 36C. Teacher tax credit (a) Credit allowed In the case of an individual who is an eligible elementary or secondary school teacher or an early childhood educator during school years ending with or within the taxable year, there shall be allowed as a credit against the tax imposed by this chapter an amount equal to the applicable amount. (b) Applicable amount (1) In general For purposes of subsection (a), the applicable amount is— (A) $12,500, in the case of an individual who is— (i) an eligible elementary or secondary teacher, or (ii) an early childhood educator with a bachelor's degree, and (B) $8,000, in the case of any eligible early childhood educator not described in subparagraph (A)(ii). (2) Limitations (A) In general The amount under paragraph (1)(A) shall be reduced (but not below zero) by the sum of— (i) $100 for each percentage point by which the student poverty ratio at the qualifying school (in the case of an eligible elementary or secondary teacher) or the subsidized student ratio at the early childhood education center (in the case of an early childhood educator with a bachelor's degree) at which the individual is employed is below 100 percent, and (ii) $300 for each percentage point by which the student poverty ratio at the qualifying school (in the case of an eligible elementary or secondary teacher) or the subsidized student ratio at the early childhood education center (in the case of an early childhood educator with a bachelor's degree) at which the individual is employed is below 75 percent. (B) Early childhood educators without a bachelor's degree The amount under paragraph (1)(B) shall be reduced (but not below zero) by $320 for each percentage point by