Bill > H3116

This bill amends Massachusetts state tax law to exclude from taxable income any student loan forgiveness received by veterans who are permanently and totally disabled. Specifically, the bill adds a new provision to the state's tax code that would prevent veterans who have been designated as permanently and totally disabled from having to pay income tax on student loans that are discharged or forgiven. This means that when such veterans have their educational loans canceled, typically through federal programs designed to support disabled veterans, they will not have to report this loan forgiveness as taxable income on their state tax returns. The change aims to provide financial relief to disabled veterans by ensuring they do not face an additional tax burden when their student loans are discharged, recognizing the significant challenges these veterans may face due to their disability.

Budget and Finance

https://malegislature.gov/Bills/194/H3116