summary
Introduced
05/20/2019
05/20/2019
In Committee
05/20/2019
05/20/2019
Crossed Over
Passed
Dead
12/31/2020
12/31/2020
Introduced Session
191st General Court
Bill Summary
Relative to the student loan debt relief tax credit. Revenue.
AI Summary
This bill establishes a student loan debt relief tax credit in Massachusetts. It allows qualified taxpayers who have incurred at least $20,000 in student loan debt and have at least $5,000 in outstanding debt to claim a credit of up to $2,500 against their state income taxes. The total amount of credits approved each year is capped at $9 million. The Department of Higher Education is responsible for administering the program, including prioritizing applicants based on factors like debt burden and in-state tuition eligibility, and must implement an outreach and marketing plan to make eligible taxpayers aware of the credit.
Committee Categories
Budget and Finance
Sponsors (16)
Jim Arciero (D),
Brian Ashe (D),
Jamie Eldridge (D),
Colleen Garry (D),
Carlos González (D),
Ken Gordon (D),
Patrick Kearney (D),
Joe McKenna (R),
Mike Moore (D),
Brian Murray (D),
Tom Stanley (D),
Bruce Tarr (R),
José Tosado (D),
Steve Ultrino (D),
Bud Williams (D),
Jon Zlotnik (D),
Last Action
Accompanied a study order, see H5080 (on 11/02/2020)
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/H3812 |
| Bill | https://malegislature.gov/Bills/191/H3812.pdf |
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