1. Short title This Act may be cited as the American Opportunity Student Tax Relief Act of 2020 . 2. COVID relief (a) American opportunity and lifetime learning credits Section 25A of the Internal Revenue Code of 1986 is amended by adding at the end the following new subsection: (j) COVID relief In the case of any taxable year beginning in 2020: (1) Subsection (b)(1)(A) shall be applied by substituting $2,500 for $2,000 . (2) Subsection (b)(1)(B) shall be applied— (A) by substituting $2,500 for $2,000 , and (B) by substituting $4,500 for $4,000 . (3) Subsection (i) shall be applied by substituting Sixty percent for Forty percent . (4) The amount determined under subsection (c)(1) shall be the sum of— (A) 100 percent of so much of the qualified tuition and related expenses paid the taxpayer during the taxable year (for education furnished during any academic period beginning in such taxable year) as does not exceed $2,000, plus (B) 20 percent of such expenses so paid as exceeds $2,000 but does not exceed $10,000. (5) So much of the credit allowable under subsection (a) as is attributable to the Lifetime Learning Credit (determined after application of subsection (d) and without regard to this paragraph and section 26(a)) and does not exceed $1,500 shall be treated as a credit allowable under subpart C (and not allowed under subsection (a)). . (b) Expansion of pell grant exclusion from gross income Section 4(b) of this Act is amended by striking December 31, 2020 and inserting December 31, 2019 . (c) Exclusion of emergency financial aid grants For purposes of the Internal Revenue Code of 1986, in the case of any taxable year beginning in 2020, gross income shall not include any emergency financial aid grant received by a student under section 18004(c) of the CARES Act. 3. Extension and modification of American opportunity tax credit (a) In general Section 25A of the Internal Revenue Code of 1986, as amended by section 2, is amended to read as follows: 25A. American opportunity tax credit (a) Allowance of credit In