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MA S2025
Bill
Status
Introduced
2/27/2025
Primary Sponsor
Edward Kennedy
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AI Summary
- Creates a state income tax credit for graduates of accredited Massachusetts community colleges, colleges, and universities who remain in the state after completing their degree
- Requires taxpayers to be Massachusetts residents for more than one full taxable year and actively making educational loan payments to qualify
- Sets maximum annual credit amounts by degree level: $1,000 for associate degrees, $2,000 for bachelor's degrees, and $3,000 for graduate degrees
- Credit amount equals the lesser of actual loan payments made during the tax year or the applicable degree-based cap
- Amends Chapter 62, Section 6 of Massachusetts General Laws by adding new subsection 6O
Legislative Description
Establishing the Massachusetts student relief and retention tax credit
Last Action
Hearing scheduled for 09/09/2025 from 10:00 AM-1:00 PM in Gardner Auditorium
8/27/2025
Committee Referrals
Revenue2/27/2025
Full Bill Text
No bill text available