HOUSE DOCKET, NO. 2415        FILED ON: 1/19/2023

HOUSE  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  No. 3766

 

The Commonwealth of Massachusetts

_________________

PRESENTED BY:

Carol A. Doherty

_________________

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 an income tax credit for parents contributing to a child's college tuition.

_______________

PETITION OF:

 

Name:

District/Address:

Date Added:

Carol A. Doherty

3rd Bristol

1/19/2023

James K. Hawkins

2nd Bristol

2/9/2023

James C. Arena-DeRosa

8th Middlesex

2/9/2023

Brian W. Murray

10th Worcester

2/19/2023

Steven S. Howitt

4th Bristol

2/19/2023

Bruce E. Tarr

First Essex and Middlesex

4/5/2023


HOUSE DOCKET, NO. 2415        FILED ON: 1/19/2023

HOUSE  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  No. 3766

By Representative Doherty of Taunton, a petition (accompanied by bill, House, No. 3766) of Carol A. Doherty and others for legislation to establish an income tax credit for parents contributing to college tuitions.  Revenue.

 

The Commonwealth of Massachusetts

 

_______________

In the One Hundred and Ninety-Third General Court
(2023-2024)

_______________

 

An Act establishing an income tax credit for parents contributing to a child's 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 6 of chapter 62 of the General Laws, as most recently amended by section 103 of chapter 268 of the acts of 2022, is hereby further amended by adding the following subsection:-

(dd)(1) A taxpayer shall be allowed in each taxable year a credit equal to $2,500 for payments contributing to each child’s college tuition; provided, that such child shall be a dependent of the taxpayer.

(2) To be eligible for a credit under this subsection, the taxpayer shall earn less than $100,000 annually. The taxpayer’s income shall be adjusted at the beginning of each calendar year, by the percentage, if any, by which the consumer price index, as defined in section 1 of the Internal Revenue Code, pursuant to 26 U.S.C. section 1, for the preceding year exceeds the consumer price index for the calendar year that ends before such preceding year.