Loading chat...
MN HF2852
Bill
Status
Introduced
1/31/2022
Primary Sponsor
Gregory Davids
Click for details
AI Summary
- Allows Minnesota individual income taxpayers to subtract employer-paid student loan payments from taxable income, with a limit of $5,250 per year.
- Joint filers may subtract up to $10,500 annually in employer student loan payments.
- Applies to payments made by employers on principal or interest for qualified education loans as defined under Internal Revenue Code section 221(d)(1).
- Covers only loans incurred by the employee for their own education.
- Effective for taxable years beginning after December 31, 2021.
Legislative Description
Employer student loan payment tax subtraction allowed.
Last Action
Author added Robbins
3/28/2022
Committee Referrals
Taxes1/31/2022
Full Bill Text
No bill text available