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NC H345
Bill
Status
Introduced
3/9/2023
Primary Sponsor
Cynthia Ball
Click for details
AI Summary
- Eliminates North Carolina state income tax on student loan debt relief received under the American Rescue Plan Act of 2021
- Removes the requirement for taxpayers to add back federal student loan discharge exclusions to their North Carolina taxable income for tax years 2021 through 2025
- Provides relief for insolvent taxpayers by limiting adjustments to amounts exceeding what would have been excluded under pre-2021 federal law
- Effective for taxable years beginning January 1, 2023
Legislative Description
Student Tax Reduction (STAR) Act
Individual Income
Last Action
Ref To Com On Rules, Calendar, and Operations of the House
3/14/2023
Committee Referrals
Rules, Calendar, and Operations of the House3/14/2023
Full Bill Text
No bill text available