Bill > S1810

This bill aims to promote student loan repayment by providing tax credits to businesses that offer student loan payment assistance to their employees. Specifically, the bill allows businesses to claim a tax credit equal to 100% of the student loan assistance they provide, up to $4,500 per qualified employee per year. The credit can be carried forward for up to 5 years if it exceeds the business's tax liability for the year. The bill defines "qualified education loan" as loans used to pay for post-secondary education expenses, and "qualified employee" as an individual who is an employee of the business and is domiciled in Massachusetts. This measure is intended to incentivize businesses to help their employees repay student loans, which can be a significant financial burden.

Budget and Finance

https://malegislature.gov/Bills/193/S1810