Massachusetts H3766 proposes an income tax credit for parents contributing to their child's college tuition.

Massachusetts H3766 introduces an income tax credit for parents contributing to their child's college tuition. Eligible taxpayers can claim a credit of up to $2,500 per child, provided the child is a dependent and the taxpayer's annual income is below $100,000. The credit amount adjusts annually based on changes in the consumer price index. This bill aims to alleviate the financial burden of college tuition for families within the specified income bracket.

Massachusetts H3766 proposes an income tax credit for parents contributing to their child's college tuition.

Massachusetts H3766 introduces an income tax credit for parents contributing to their child's college tuition. Eligible taxpayers can claim a credit of up to $2,500 per child, provided the child is a dependent and the taxpayer's annual income is below $100,000. The credit amount adjusts annually based on changes in the consumer price index. This bill aims to alleviate the financial burden of college tuition for families within the specified income bracket.