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
For legislation to encourage employee student loan assistance. Revenue.
AI Summary
This bill aims to encourage employer-provided student loan repayment assistance. It would allow individuals to deduct up to $2,000 from their state income taxes for principal payments on student loans made by their employers. Similarly, it would allow businesses to deduct up to $2,000 per employee for principal payments on student loans they make on behalf of their employees who are Massachusetts residents. The purpose of this legislation is to provide tax incentives for employers to assist their employees with student loan repayment, which can help alleviate the financial burden of higher education.
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/S1891 |
| Bill | https://malegislature.gov/Bills/192/S1891.pdf |
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