Establishes a tuition tax credit in Massachusetts up to 20% of qualified higher education costs, up to $5,000 annually.
The bill amends Massachusetts tax law to introduce a tuition tax credit for higher education. It allows a credit against tax liability for up to 20% of the cost of qualified tuition and fees, with a maximum credit of $5,000 per tax year. Any unused credit can be applied over the following seven subsequent tax years.
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