An Act encouraging employer student loan repayment
Generates a plain-language summary of the bill text and history.
| Date | Branch | Action |
|---|---|---|
| 7/2/2026 | House | Bill reported favorably by committee and referred to the committee on House Ways and Means |
| 4/1/2026 | Senate | Reporting date extended to Thursday June 25, 2026 |
| 10/3/2025 | Joint | Hearing rescheduled to 10/03/2025 from 10:00 AM-12:35 PM in Gardner Auditorium — Hearing updated to New End Time |
| 9/24/2025 | Joint | Hearing scheduled for 10/03/2025 from 10:00 AM-05:00 PM in Gardner Auditorium |
| 2/27/2025 | House | House concurred |
| 2/27/2025 | Senate | Referred to the committee on Revenue |
No additional cosponsors.
| Committee | Recommendation | Vote |
|---|---|---|
| J26 | Favorable | 1 entries |
Subsection (d) of Section 2 of Chapter 62 of the General Laws, appearing in the 2022 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.
Chapter 63 of the General Laws, as appearing the 2022 Official Edition, shall hereby be amended by inserting after Section 38FF the following new section:-
G. (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.
SECTION 1. Subsection (d) of Section 2 of Chapter 62 of the General Laws, appearing in the 2022 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 2022 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.