Bill > S2051

This bill introduces two key tax-related provisions to improve the accessibility and affordability of trade school education in Massachusetts. First, the bill creates a new tax deduction that allows taxpayers to deduct tuition payments to private occupational schools (trade schools) that exceed 25% of their Massachusetts adjusted gross income, with some limitations. This deduction applies to tuition paid for either the taxpayer or a dependent and cannot be claimed by non-residents. Second, the bill modifies an existing tax deduction for education debt, specifically expanding the definition of eligible education debt to include loans administered by financial aid offices of private occupational schools or two-year and four-year colleges. The revised education debt deduction applies to loans obtained specifically for paying tuition and related expenses for undergraduate enrollment, and taxpayers cannot claim deductions for the same expenses under multiple provisions. These changes aim to provide financial relief to students and families pursuing trade school and higher education by offering tax benefits that can help offset educational costs.

Budget and Finance

https://malegislature.gov/Bills/194/S2051