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ND HB1365
Bill
Status
Introduced
1/15/2021
Primary Sponsor
Pamela Anderson
Click for details
AI Summary
- Taxpayers receive a state income tax credit equal to student loan interest paid to the Bank of North Dakota during the taxable year
- Credit cannot exceed a taxpayer's state income tax liability, with excess amounts carried forward for up to five taxable years
- Student loan interest amounts on which the credit is computed must be added back to federal taxable income when calculating North Dakota taxable income, but only to the extent the interest reduced federal taxable income
- Effective for taxable years beginning after December 31, 2020
Legislative Description
An income tax credit for higher education student loan interest payments; and to provide an effective date.
Last Action
Second reading, failed to pass, yeas 19 nays 75
2/2/2021
Committee Referrals
Finance and Taxation1/15/2021
Full Bill Text
No bill text available