SENATE DOCKET, NO. 519        FILED ON: 1/17/2017

SENATE  .  .  .  .  .  .  .  .  .  .  .  .  .  .  No. 1590

 

The Commonwealth of Massachusetts

_________________

PRESENTED BY:

Patrick M. O'Connor

_________________

To the Honorable Senate and House of Representatives of the Commonwealth of Massachusetts in General
Court assembled:

The undersigned legislators and/or citizens respectfully petition for the adoption of the accompanying bill:

An Act establishing a tax credit for individuals paying college tuition.

_______________

PETITION OF:

 

Name:

District/Address:

 

Patrick M. O'Connor

Plymouth and Norfolk

 

Donald F. Humason, Jr.

Second Hampden and Hampshire

1/30/2017

Ryan C. Fattman

Worcester and Norfolk

2/1/2017

Josh S. Cutler

6th Plymouth

2/3/2017

James M. Cantwell

4th Plymouth

2/3/2017


SENATE DOCKET, NO. 519        FILED ON: 1/17/2017

SENATE  .  .  .  .  .  .  .  .  .  .  .  .  .  .  No. 1590

By Mr. O'Connor, a petition (accompanied by bill, Senate, No. 1590) of Patrick M. O'Connor, Donald F. Humason, Jr., Ryan C. Fattman, Josh S. Cutler and others for legislation to establish a tax credit for individuals paying college tuition.  Revenue.

 

The Commonwealth of Massachusetts

 

_______________

In the One Hundred and Ninetieth General Court
(2017-2018)

_______________

 

An Act establishing a tax credit for individuals paying college tuition.

 

Be it enacted by the Senate and House of Representatives in General Court assembled, and by the authority of the same, as follows:
 

SECTION 1. Chapter 62 is hereby amended in Section 6 by inserting at the end thereof after subsection (q) the following new subsection:-

(r) A credit shall be allowed against the tax liability imposed by this chapter for in an amount up to 20 per cent of the cost of qualified tuition and fees for higher education. The credit under this subsection shall be allowed for the taxable year in which the expenses are incurred; provided, that said credit shall not exceed $5,000 in any tax year and any excess credit may be applied over the following seven subsequent tax years.