HB237

Kentucky HB237 creates a tax credit for employers who repay student loans for their employees.

Kentucky HB237 introduces a tax credit for employers who repay student loans for their employees. This credit applies to employers doing business in the state and subject to taxation under certain Kentucky Revised Statutes. Eligible employees must reside and work in Kentucky, have earned their first bachelor's degree within the last five years, and work at least 35 hours per week. The credit is equal to 50% of the repayment amount made to the outstanding principal balance of the eligible student loan during the taxable year.