An Act establishing the Massachusetts student relief and retention tax credit
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 |
| 8/27/2025 | Joint | Hearing scheduled for 09/09/2025 from 10:00 AM-1:00 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 |
Chapter 62 of the Massachusetts General Laws as appearing in the 2022 Official edition, is hereby amended in Section 6 by inserting at the end thereof after Section 6N the following new subsection:-
(a) The purpose of this section shall be to provide an incentive for students to remain in Massachusetts upon the completion of a degree attained from an accredited Massachusetts community college, college, or university. This program is intended to plan for the long-term retention of talent that relocates to Massachusetts to pursue educational opportunity. (a) There is hereby established a Massachusetts student relief and retention tax credit. A qualified individual is allowed a credit against the state income tax (b) A Taxpayer may claim a credit based upon educational loan payments made to a relevant lender or lenders made during that part of a taxable year, whilst being a resident of the Commonwealth of Massachusetts for more than one entire taxable year. (c) The credit allowed under this chapter shall be equal to the lesser of; a. The monthly payment amount made on eligible education loans multiplied by the number of months during the taxable year in which the taxpayer made payments on eligible education loans; and b. The greatest of $1,000 if the qualified individual obtained an associate degree, $2,000 if the qualified individual obtained a bachelor’s degree, and $3,000 if the qualified individual obtained a graduate degree.
Chapter 62 of the Massachusetts General Laws as appearing in the 2022 Official edition, is hereby amended in Section 6 by inserting at the end thereof after Section 6N the following new subsection:- Section 6O. (a) The purpose of this section shall be to provide an incentive for students to remain in Massachusetts upon the completion of a degree attained from an accredited Massachusetts community college, college, or university. This program is intended to plan for the long-term retention of talent that relocates to Massachusetts to pursue educational opportunity. (a) There is hereby established a Massachusetts student relief and retention tax credit. A qualified individual is allowed a credit against the state income tax (b) A Taxpayer may claim a credit based upon educational loan payments made to a relevant lender or lenders made during that part of a taxable year, whilst being a resident of the Commonwealth of Massachusetts for more than one entire taxable year. (c) The credit allowed under this chapter shall be equal to the lesser of; a. The monthly payment amount made on eligible education loans multiplied by the number of months during the taxable year in which the taxpayer made payments on eligible education loans; and b. The greatest of $1,000 if the qualified individual obtained an associate degree, $2,000 if the qualified individual obtained a bachelor’s degree, and $3,000 if the qualified individual obtained a graduate degree.