summary
Introduced
01/22/2019
01/22/2019
In Committee
01/22/2019
01/22/2019
Crossed Over
Passed
Dead
12/31/2020
12/31/2020
Introduced Session
191st General Court
Bill Summary
Relative to employer student loan contribution tax deductions. Revenue.
AI Summary
This bill allows employers to claim a tax deduction of up to $3,600 per qualified employee for providing student loan payment assistance. The deduction applies to student loans incurred by employees while attending an accredited institution of higher education. Additionally, the money received by the employee from the employer for student loan payment assistance will not be considered taxable income under Massachusetts law.
Committee Categories
Budget and Finance
Sponsors (12)
Brian Ashe (D),
Mindy Domb (D),
Sean Garballey (D),
Jim Hawkins (D),
Stephen Hay (D),
Dan Hunt (D),
Eric Lesser (D),
Jason Lewis (D),
Paul Mark (D),
Brian Murray (D),
José Tosado (D),
Susannah Whipps (I),
Last Action
Accompanied a study order, see H5040 (on 10/15/2020)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://malegislature.gov/Bills/191/H2553 |
| Bill | https://malegislature.gov/Bills/191/H2553.pdf |
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