WV HB5606

Creates the "Stay in State Tax Credit" allowing West Virginia residents who graduate from in-state community colleges, colleges, or universities to claim a personal income tax credit for student loan repayments if they remain in the state after graduation

Permits employers to claim the tax credit when making student loan payments directly to lenders on behalf of qualified employees, with the credit based on benchmark or actual monthly loan payments

Calculates the credit using a "principal cap" based on average in-state tuition and mandatory fees multiplied by four years for bachelor's degrees or two years for associate degrees, with unused credits carrying forward for up to 10 years

Makes the credit refundable for graduates with degrees in science, technology, engineering, or mathematics (STEM fields)

Requires the State Board of Education and governing boards of colleges and universities to promote the program through financial aid materials, entrance and exit interviews, and documentation of eligible student loan information