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 income tax deductions for certain education debts paid by employers. Revenue.
AI Summary
This bill aims to encourage employer student loan repayment by allowing employers to deduct the principal payments they make on behalf of their employees' education debts, up to a maximum of $2,000 per employee. The bill defines "education debt" as having the same meaning as in the relevant section of the state's tax code. The deduction can be claimed against the employer's income tax liability, providing a financial incentive for employers to help their employees repay their student loans.
Committee Categories
Budget and Finance
Sponsors (4)
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/H2811 |
| Bill | https://malegislature.gov/Bills/192/H2811.pdf |
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