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
For legislation to encourage employee student loan assistance. Revenue.
AI Summary
This bill aims to encourage employer student loan repayment by allowing both individuals and businesses to deduct the principal payments made by employers on behalf of their employees' education debts, up to a maximum of $2,000 per employee. The key terms defined in the bill are "education debt," which refers to the loans taken out for educational purposes, and the deduction applies to Massachusetts residents only. This provision is intended to incentivize employers to assist their employees in paying off their student loans, which can provide financial relief and support for the workforce.
Committee Categories
Budget and Finance
Sponsors (13)
Jim Arciero (D),
Bruce Ayers (D),
Mindy Domb (D),
William Driscoll (D),
Jamie Eldridge (D),
Ed Kennedy (D),
Mike Moore (D),
James Murphy (D),
Brian Murray (D),
Tom Stanley (D),
Bruce Tarr (R),
José Tosado (D),
Jon Zlotnik (D),
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/H2391 |
| Bill | https://malegislature.gov/Bills/191/H2391.pdf |
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