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Bill > S1690

MA S1690

Establishing the Massachusetts student relief and retention tax credit

summary

Introduced
01/22/2019
In Committee
01/22/2019
Crossed Over
Passed
Dead
12/31/2020

Introduced Session

191st General Court

Bill Summary

For legislation to establish the Massachusetts student relief and retention tax credit. Revenue.

AI Summary

This bill establishes the Massachusetts student relief and retention tax credit. The purpose of this credit is to provide an incentive for students to remain in Massachusetts after completing their degree from an accredited Massachusetts community college, college, or university. The tax credit is available to qualified individuals who are residents of Massachusetts for more than one entire taxable year and have made payments on eligible education loans. The credit amount is equal to the lesser of the monthly payment amount multiplied by the number of months the taxpayer made payments, or $1,000 for an associate degree, $2,000 for a bachelor's degree, or $3,000 for a graduate degree.

Committee Categories

Budget and Finance

Sponsors (2)

Last Action

Accompanied a study order, see H5040 (on 10/15/2020)
(19 Companion Bills)

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Document Type Source Location
State Bill Page https://malegislature.gov/Bills/191/S1690
Bill https://malegislature.gov/Bills/191/S1690.pdf
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