Bill
Bill > S1964
MA S1964
Relative to the accessibility and affordability of trade school education
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 relative to the accessibility and affordability of trade school education. Revenue.
AI Summary
This bill aims to improve the accessibility and affordability of trade school education. It does this by:
1) Allowing taxpayers to deduct the amount of their tuition payments to private occupational schools that exceeds 25% of their Massachusetts adjusted gross income, as long as the taxpayer or a dependent is enrolled in the school. This deduction is limited based on federal tax law.
2) Expanding the existing deduction for interest paid on education debt to include loans obtained to pay for tuition and expenses at private occupational schools, as well as two-year and four-year colleges. Taxpayers can only claim one of these deductions, not both.
The goal is to provide tax relief to individuals and families who are paying for trade school or other post-secondary education, making it more accessible and affordable.
Committee Categories
Budget and Finance
Sponsors (1)
Last Action
Accompanied a study order, see H5250 (on 10/03/2022)
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/S1964 |
| Bill | https://malegislature.gov/Bills/192/S1964.pdf |
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