Promotes student loan repayment by allowing businesses to claim a tax credit for assisting employees with student loan payments.

This bill, S1983, introduces a tax credit for businesses in Massachusetts that provide student loan payment assistance to their employees. The credit allows businesses to claim up to $4,500 per qualified employee per tax year against their tax liability. If the credit exceeds the tax due, the excess can be carried over to the next five taxable years. The bill defines "qualified education loan" and "qualified employee" for the purposes of the credit.

Promotes student loan repayment by allowing businesses to claim a tax credit for assisting employees with student loan payments.

This bill, S1983, introduces a tax credit for businesses in Massachusetts that provide student loan payment assistance to their employees. The credit allows businesses to claim up to $4,500 per qualified employee per tax year against their tax liability. If the credit exceeds the tax due, the excess can be carried over to the next five taxable years. The bill defines "qualified education loan" and "qualified employee" for the purposes of the credit.