A bill to amend the Internal Revenue Code of 1986 to provide a higher education opportunity credit in place of existing education tax incentives.

Higher Education Opportunity Act of 2008 - Amends the Internal Revenue Code to replace the hope and lifetime learning tax credits with a higher education opportunity tax credit. Allows a higher education opportunity tax credit for 100% of qualified tuition and related expenses (including a certain allowance for books) up to $1,000, 50% for such expenses between $1,000 and $3,000, and...