Promotes student loan repayment by allowing businesses to claim a tax credit for student loan payment assistance provided to employees.
This bill amends the Massachusetts General Laws to allow businesses to claim a tax credit for student loan payment assistance provided to employees. The credit is equal to 100% of the assistance provided, up to a maximum of $4,500 per employee per year. The credit can be carried over for up to five years. The bill defines "student loan payment assistance" as the payment of principal or interest on a qualified education loan.
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- Overview
- Core Provisions
- Implementation
- Impact
- Legal Framework
- Critical Issues
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