Bill > S1852

This bill establishes the Massachusetts student relief and retention tax credit. The purpose of the credit is to provide an incentive for students to remain in Massachusetts after completing a degree from an accredited Massachusetts community college, college, or university. Qualified individuals can claim a credit against their state income tax based on the monthly payments they made on eligible education loans during the taxable year they were a Massachusetts resident for more than one year. The credit amount is the lesser of the monthly loan payment multiplied by the number of months of payments, or $1,000 for an associate degree, $2,000 for a bachelor's degree, or $3,000 for a graduate degree.

Budget and Finance

https://malegislature.gov/Bills/193/S1852