Bill > S1851

This bill aims to encourage employer-provided student loan repayment assistance. It does this by allowing individuals to deduct up to $2,000 from their state income taxes for principal payments on education debts that their employer has paid on their behalf. Similarly, it allows businesses to deduct up to $2,000 per employee for the principal payments they make on education debts for their resident employees. The goal is to incentivize employers to offer student loan repayment benefits to their workers, which can help alleviate the burden of student debt.