Loading chat...
MS HB1720
Bill
Status
2/26/2025
Primary Sponsor
Jody Steverson
Click for details
AI Summary
-
Excludes from gross income any federal student loan debt forgiven, cancelled, or discharged under the Public Service Loan Forgiveness (PSLF) Program for tax years 2024 and thereafter.
-
Limits the exclusion to individuals who have served or are currently serving in an underserved or rural community as defined by the Mississippi Department of Health or the United States Department of Agriculture.
-
Amends Section 27-7-15 of the Mississippi Code to add this exclusion as paragraph (ss) to the list of items exempt from gross income taxation.
-
Takes effect January 1, 2025.
Legislative Description
Income tax; exclude from gross income certain forgiven, cancelled or discharged federal student loan debt.
Last Action
Died In Committee
2/26/2025