summary
Introduced
03/29/2021
03/29/2021
In Committee
03/29/2021
03/29/2021
Crossed Over
Passed
Dead
12/31/2022
12/31/2022
Introduced Session
192nd General Court
Bill Summary
Relative to employer student loan contribution tax deductions. Revenue.
AI Summary
This bill proposes to allow employers to deduct up to $3,600 per qualified employee from their taxes for providing student loan payment assistance to their employees. The deduction applies only to student loans incurred by employees while attending an accredited institution of higher education, and the assistance can be provided directly to the employee or to the loan holder on the employee's behalf. Additionally, the monies received by the employee for student loan payment assistance would not be considered taxable income under Massachusetts tax law.
Committee Categories
Budget and Finance
Sponsors (1)
Last Action
Accompanied a study order, see H4894 (on 09/22/2022)
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/192/H2999 |
| Bill | https://malegislature.gov/Bills/192/H2999.pdf |
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