HOUSE DOCKET, NO. 1116 FILED ON: 1/15/2019
HOUSE . . . . . . . . . . . . . . . No. 2391
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The Commonwealth of Massachusetts
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PRESENTED BY:
James Arciero
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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 encouraging employer student loan repayment.
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PETITION OF:
Name: | District/Address: | Date Added: |
James Arciero | 2nd Middlesex | 1/9/2019 |
Bruce J. Ayers | 1st Norfolk | 2/1/2019 |
William J. Driscoll, Jr. | 7th Norfolk | 2/1/2019 |
James B. Eldridge | Middlesex and Worcester | 1/30/2019 |
Michael O. Moore | Second Worcester | 2/1/2019 |
James M. Murphy | 4th Norfolk | 1/30/2019 |
Brian W. Murray | 10th Worcester | 2/1/2019 |
Thomas M. Stanley | 9th Middlesex | 1/31/2019 |
José F. Tosado | 9th Hampden | 1/30/2019 |
Jonathan D. Zlotnik | 2nd Worcester | 2/1/2019 |
Edward J. Kennedy | First Middlesex | 1/31/2019 |
Bruce E. Tarr | First Essex and Middlesex | 1/29/2019 |
Mindy Domb | 3rd Hampshire | 1/31/2019 |
HOUSE DOCKET, NO. 1116 FILED ON: 1/15/2019
HOUSE . . . . . . . . . . . . . . . No. 2391
By Mr. Arciero of Westford, a petition (accompanied by bill, House, No. 2391) of James Arciero and others for legislation to encourage employee student loan assistance. Revenue. |
[SIMILAR MATTER FILED IN PREVIOUS SESSION
SEE SENATE, NO. 1516 OF 2017-2018.]
The Commonwealth of Massachusetts
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In the One Hundred and Ninety-First General Court
(2019-2020)
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An Act encouraging employer student loan repayment.
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. Subsection (d) of section 2 of chapter 62 of the General Laws, appearing in the 2014 Official Edition, is hereby amended by inserting after subclause (I), the following subclause:-
(J) An amount equal to the principal payments on education debts paid by an employer on behalf of an employee who is a resident of the commonwealth; provided, however, that the amount of the deduction shall not exceed $2,000. For purposes of this subclause, “education debt” shall have the same meaning as defined in paragraph (12) of subsection (a) of Part B of section 3.
SECTION 2. Chapter 63 of the General Laws, as appearing the 2014 Official Edition, shall hereby be amended by inserting after section 38FF the following new section:-
Section 38GG. (a) For the purposes of this section, “education debt” shall have the same meaning as defined in paragraph (12) of subsection (a) of Part B of section 3 of chapter 62.
(b) In determining the net income subject to tax under this chapter, a business corporation shall be allowed a deduction of an amount equal to the principal payments on education debts paid by the business corporation on behalf of an employee who is a resident of the commonwealth; provided however, that the deduction taken for payments on education debts paid on behalf of any individual employee shall not exceed $2,000.