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MS HB1773
Bill
Status
2/22/2023
Primary Sponsor
Bob Evans
Click for details
AI Summary
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Excludes federal student loan debt that is forgiven, cancelled, or discharged under the Public Service Loan Forgiveness Program from Mississippi's definition of "gross income" for state income tax purposes
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Adds this exclusion to the existing list of exempt income items in Section 27-7-15 of the Mississippi Code, which already excludes items such as retirement benefits, disaster relief payments, and various federal assistance programs
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Amends the state tax code to ensure recipients of Public Service Loan Forgiveness do not face state income tax liability on the forgiven debt amount
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Takes effect July 1, 2023
Legislative Description
Income tax; exclude forgiven, cancelled or discharged federal student loan debt under the Public Service Loan Forgiveness Program from the definition of "gross income".
Last Action
Died In Committee
2/22/2023