Budget Amendment ID: FY2020-S3-189

EDU 189

Promoting Student Loan Repayment

Messrs. Tarr, deMacedo, Humason and O'Connor moved that the proposed new text be amended by inserting after SECTION _ the following section:-

SECTION_. Paragraph (a) of Part B of section 3 of chapter 62 of the General Laws, as appearing in the 2016 Official Edition, is hereby amended by adding the following subparagraph:- (20) An amount equal to the amount of student loan payment assistance received by an individual from their employer during the taxable year. For the purposes of this subparagraph, “student loan payment assistance” shall mean the payment of principal or interest on a qualified education loan, as defined in section 221 of the Code.”